The new currency offering allows the VQF-backed digital asset exchange to tap into new markets and solidifies its presence in Europe
Zurich, Switzerland – BiboxEurope, the AI-enhanced, encrypted digital asset exchange, has boosted its fiat onboarding capabilities with fiat-to-cryptocurrency trading of the pound sterling (GBP) with Bitcoin and Ethereum. Users are already able to trade with euros (EUR) after the exchange launched BTC/EUR and ETH/EUR in July amid a sustained phase of growth.
The inclusion of GBP expands BiboxEurope’s footprint in the evolving European crypto landscape and widens its user base to include UK-based clients and other customers wanting exposure to G10 currencies.
BiboxEurope made the decision to include GBP onboarding options after community members voted favourably for the currency’s inclusion in a recent Twitter poll. The inclusion of GBP confirms BiboxEurope is committed to deepening its offerings in the EMEA region with more currency pairs expected to be launched on the exchange in the near future.
Commenting on the launch of BTC/GBP and ETH/GBP on BiboxEurope, Aries Wang, Bibox Co-Founder said:
The inclusion of GBP on the BiboxEurope platform bolsters our product offerings and provides greater choice and flexibility to our user base. We see the inclusion of GBP as an important milestone in our expansion into Europe, as we continue to look at ways of enhancing the user experience.
BiboxEurope’s inclusion of GBP comes amid increased political uncertainty in the U.K. that has put downward pressure on the country’s currency in recent months. But despite the volatility of the pound sterling, the currency remains one of the most traded on global currency exchanges, adding extra weight to the currencies on offer on the BiboxEurope exchange .
Our aim is to continuously support the global expansion of cryptocurrency adoption, helping to bridge the crypto-fiat channel for Europe, and become the de facto blockchain financial service company, recognised by leading banking partners.”
The announcement continues a sustained phase of development for the exchange after BiboxEurope was granted membership with the VQF (Financial Services Standards Association), a self-regulatory organization approved by Switzerland’s financial markets regulator, FINMA in 2018. This enables BiboxEurope to operate as a ‘financial intermediary’ under the Swiss Anti-Money Laundering Act (AMLA).
As a recognized SRO member under VQF, BiboxEurope is subject to a number of stringent rules and guidelines. In addition to rigorous audits, the platform’s KYB (Know Your Business) processes and AML compliance mechanisms are monitored on an ongoing basis.
BiboxEurope will enable users to trade on the GBP Fiat Exchange immediately upon account verification (KYC) on https://www.bibox.cc/
Please leave your questions and comments below: