Binance UK releases Bitcoin ads ahead of launch

Binance UK releases Bitcoin ads ahead of launch

By Benson Toti - min read

The crypto exchange’s new ads are strategically located in bus stops across London

Binance is bringing the currency of the future to London commuters with new ads in bus stops across the city.

Binance’s new UK arm revealed in a tweet released on August 28 that the company had placed new ads in 17 different bus stops. The image featured the growth of currency, from the simple holed coin to the modern coin, with Bitcoin at the very end.

The slogan simply reads, “Money is evolving. It’s time to adapt.”

Binance announced that it would be expanding into the UK in June of this year, and they are expected to launch their regulated exchange platform sometime this autumn. Sources reveal that the exchange will be registered with the UK’s Financial Conduct Authority (FCA) and it will offer up to 65 digital assets for trading.

Binance UK also announced that it would be joining CryptoUK, a self-regulating industry association, as an executive member.

London is the newest hotspot for crypto firms that are on the hunt for new investors. Apart from Binance, other crypto enthusiasts have previously taken the opportunity to advertise across the city. The controversial HEX token by Richard Heart is being advertised on London’s buses and newspapers, and was also featured in the English Premier League soccer games.

The HEX token has aroused suspicion amongst members of the crypto community because of its high rates of returns, which many associate with Ponzi schemes and investment scams.

Galaxy Digital, by Mike Novogratz, also bought a full page advertisement in the Financial Times.

London’s appeal as a crypto destination stems in its position as one of the world’s most established and most prominent financial hubs. There are plenty of crypto businesses in the area and it has a thriving community for crypto enthusiasts. In addition, the city has more than 130 Bitcoin ATMs and around 50 merchants who are willing to accept bitcoin for payments. These factors contribute to making the capital city of the UK a conducive business landscape for crypto businesses.

However, it appears that concerns regarding the future of the UK in the midst of Brexit have made it a challenge for some companies to remain in the country. Bitstamp, a London-based crypto exchange, has revealed it is migrating the accounts of its UK customers to Bitstamp Europe SA, a business entity in Luxembourg.

The exchange attributed their decision to move to regulatory compliance and their desire to improve operational efficiency.