Binance announced that it will launch Binance KR, a Korean cryptocurrency exchange based on Binance Cloud. Binance stated that Binance KR is a cryptocurrency trading platform for Korean users based on Binance Cloud. Binance KR will support the BEP-2 stable coin BKRW anchored by the Korean won, and will launch BTC, ETH, and BNB benchmarking BKRW Trading pair and will support USD and BUSD in the near future. Binance said that Korean users will be able to easily convert the Korean won to BKRW stablecoins and use them for transactions. Earlier, Binance announced the acquisition of the stablecoin BKRW promoter, South Korean fintech company BxB Inc., and stated that it has established a cooperative relationship to introduce compliant cryptocurrency services to South Korea.