By Binance has finally launched its new crypto exchange in Singapore of months anticipated waiting by crypto enthusiasts.
However, at this stage, users are only able to purchase Bitcoin (BTC) using Singapore dollars (SGD), which of course means that users have far fewer choices of trading pairs than that of the company’s flagship exchange.
According to Binance Singapore’s website, the platform has partnered with the local payment provider Xfers, whose financial services have been approved by regulatory bodies in Singapore
The site details three simple steps that new customers need to follow: eating an account with Binance Singapore, linking their Xfers account, selling and buying bitcoin.
A spokesperson told the press:
“Binance is excited to bring world-class blockchain technology to Singapore and we look forward to showcasing Binance’s tier one safety and security measures to the world. BTC/SGD is the initial pair Binance Singapore is offering with the soft launch and there may be more pairs added as regulations allow.”
As reported by the press in April, CEO Changpeng Zhao stated that Binance had plans to launch the Singapore branch at some point during this month, but further details pertaining to the fiat-to-crypto exchange were not divulged.
A subsidiary of Temasek Holdings – and Singaporean investment firm, Vertex Ventures announced back in October 2018 that it had plans to invest in Binance to further cement its foray into the country.
As reported by CoinBeat, on April 23 saw the launch of Binance’s highly anticipated decentralized trading platform (DEX) ahead of schedule just one week after Binance Chain, its native blockchain went live.
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