(Rejected) Binance Takes Unique Approach to Marketing Bitcoin Ads at London Bus Stops

Binance.UK recently began a new marketing campaign in London, UK. The campaign, dubbed as #TakingOverLondon campaign, is a new effort that the crypto exchange has adopted to promote Bitcoin-featuring ads across London, UK’s capital.

The crypto exchange is advertising Bitcoin at various bus stops in London before launching its regulated platform for UK users. The crypto exchange has recently placed new advertisements promoting Bitcoin as the next evolution of money at 17 bus stops in London. The ads show different types of coins, with of two them being older generations of coins, followed by a two-pound coin that UK citizens use currently, and the fourth coin being the largest cryptocurrency, Bitcoin. The ad states: “Money is evolving. It’s time to adapt.”

Why Are Crypto Firms Going to London?

The advertisements come at the right when Binance is preparing to expand its business into the UK market, with the launch of intended regulated exchange platform scheduled for this autumn. Binance.UK’s new ads are aimed to promote awareness of cryptocurrency and therefore prepare potential users.

London has become a crypto hotspot where many crypto companies are eagerly looking for new investors. Binance recently joined the race as it is attracted to the city. Controversial HEX token ads published by Richard Heart spread and went viral on London’s public transport, newspapers, businesses and even the English Premier League soccer games.

Mike Novogratz’s Galaxy Digital purchased a full-page ad in “Financial Times” the UK-based international daily newspaper, in which Bitcoin also appears frequently.

Binance’s Strategy for Building Brand

Binance has not limited itself to advertising. It recently announced that it would be joining CryptoUK, the UK’s self-regulating industry association, as an executive member.

CryptoUK counts CoinShares, Ripple, and Coinbase, among others as its founding members.  Since launched in 2018, the trade association has developed meaningful relationships with policymakers, regulators, and industry participants. The association focuses on working with its members to assist in building a supportive regulatory framework for cryptocurrency businesses and customers in the UK.

Binance will be required to register with the Financial Conduct Authority (the country’s financial services regulator) and comply with the Anti-Money Laundering and Know-Your-Customer practices and standards.

At the beginning of 2020 January, all firms conducting cryptocurrency-related activities in the UK are required to comply with the amended transfer of funds, terrorist financing, and money laundering regulations and register with the FCA.