Binance, left China in September 2017 in response to the country’s ban on cryptocurrency trading but is now looking to open a new office in Beijing to accompany one operating in Shanghai.
The move follows a series of events indicating warming relations between the company and the country, where it was founded by Changpeng Zhao in 2017 before its move to Malta. Binance is one of many companies in the crypto industry that seem to be growing friendlier with China.
Binance may be set to open up a new office in China, but it reportedly has a number of employees currently operating in the Chinese capital.
Crypto markets shook in October following the President of China’s announcement of support for blockchain innovation in the country. The next day after Xi Jingpin’s pledge of support, Bitcoin (BTC) dramatically surged by a reported 12% in what many saw as a result of Xi’s professed support.