HomeBinance is the newest member of Blockchain for Europe

Binance is the newest member of Blockchain for Europe

september 4, 2020 By Lacie-Mae Durham

The crypto exchange giant announced its membership to the consortium on September 3 

The global blockchain company Binance has become the newest member of Blockchain For Europe, a European membership association that represents international blockchain industry participants around the European Union.

The UK Director of Binance, Teana Baker-Taylor, has been appointed to the Board of Blockchain For Europe. She joins a group of experts from other high profile cryptocurrency firms such as Fetch.ai, Block.one, Ripple and Blockseed Ventures. This group of stakeholders and industry experts are set to collaborate over balanced policy and regulatory governance for blockchain in the region. They will also be working with European policymakers over the potential opportunities that blockchain can offer in the future.

Baker-Taylor emphasises Binance’s commitment to this newfound collaboration.

“As a global leader in the digital asset industry, Binance is committed to working with policymakers to educate and support the development of informed and effective governance models which promote the overall growth of the blockchain ecosystem,” she said.

“We’re delighted to join Blockchain For Europe to collaborate with some of the industry’s top companies to advocate for blockchain technology and tokenization innovation in Europe.”

Robert Kopitsch, the Secretary-General of Blockchain for Europe, believes that Binance’s participation will be invaluable in the organization’s work moving forward.

“Welcoming Binance to the Blockchain For Europe family is another great step in our mission highlighting the opportunities Blockchain technology offers to Europe. We are looking forward to incorporating the expertise and experience this global leader in blockchain brings to the table,” he said.

Blockchain for Europe’s current focus is on crafting a response to the EU Action Plan on AML public consultation, the Digital Services Act (DSA) on Smart Contracts, and supplementing ongoing discussions over the proposed EU Framework for Markets in Crypto-assets consultation, which was conducted last December 2019.

Binance is one of the world’s most prominent blockchain and crypto infrastructure providers. The company recently launched the mainnet of its Smart Chain, a smart contract-enabled blockchain technology that runs in parallel to Binance Chain.

Binance is also working on launching its Binance Card in the US. The Binance Card is a cryptocurrency debit card that the company developed in collaboration with the Binance-owned crypto commerce company Swipe.

Their entry into the US is made possible due to a partnership with Evolve Bank and Trust, a banking institution that is operating within the US. The partnership unlocked direct USD deposits for users located in the country.