Returning to China: Binance Office Rumored to be Opening in Beijing

It seems that Binance might finally be returning to China. There are rumors about a brand-new office opening in Beijing in the near future.

Binance officially left China back in September 2017. This was due to the Chinese government’s decision to ban all forms of crypto trading. 2 years later, the company is looking to make its way back into China and open a second office in the country.

Currently, there are no official statements by the exchange to confirm the rumors, but there is a rapidly increasing number of Binance employees working in the Chinese capital.

Returning to China seems to be part of Binance’s strategy

Binance returning to China doesn’t seem that surprising as more and more companies in the crypto sphere seem to be warming up to the country.

Back in September, Binance revealed the plans to roll out their over-the-counter (OTC) trading platform for Chinese yuan. This was later followed by the exchange’s participation in the $200 million funding round for Chinese crypto and blockchain publication Mars Finance.

Bloomberg’s take on the development was that Binance had already decided to heavily invest in China, but is doing so in a very careful pace.

Last week, Chinese President Xi Jingping stated that blockchain technology should be encouraged and developed. This is rumored to be the main cause behind bitcoin’s rally up to $9.3K. The 24-hour gains after the statement were up to 37%.

You can also check out: