By Staff Writer
Notable cryptocurrency exchange Binance is opening an office in Bejing, reported Coindesk.
The new center will be connecting with Binance’s current Mainland China office in Shanghai. There is not much clarity around the functions of the office and when it will be opened.
However, the move follows a series of announcements from Chinese governments, including the outlining by President Xi Jinping of China’s new blockchain ambitions.
Lately, the relation between Chinese authorities and Binance seems cordial. Recently, Binance published a report on China’s plans for a digital fiat currency over the summer and Binance CEO Changpeng Zhao also tweeted about Chinese central bank having a positive impact on the crypto industry.
A year ago China’s censorship firewall blocked access to the Binance website. However, recently Binance executives announced that Binance is working with multiple governments on an upcoming stablecoin project called Venus.
Amid all these, Mr. Zhao clarified that increased serving of Chinese users doesn’t mean that the company is working with the government authorities on products or services beyond the Venus stablecoin project. Adding to it, he said in a twitter video that; “I don’t have anything that’s not public and all of my readings are from public sources.”