BINANCE LAUNCHED A CRYPTO-FIAT PLATFORM IN SINGAPORE

The largest in terms of trading volume, cryptocurrency exchange Binance, announced the launch of a Crypto-fiat trading platform in Singapore. So far, only one trading pair is available on the platform – BTC/SGD.

Earlier, the exchange launched two more Crypto-fiat platforms – in Uganda and in Jersey. However, if previous platforms supported trading pairs with ETH, only bitcoin is available for trading in Singapore.

In order to trade on the exchange, users need an account with the local payment service Xfers, which provides a cryptocurrency wallet approved by Singapore regulators. After registering on Binance, a Singapore user links their Xfers account and starts trading.

“Binance is happy to provide world-class technology for Singapore users. The BTC/SGD pair will be the initial one, but, in the future, it will possible add other trading pairs, subject to their approval by regulators,” the exchange representatives said.

Note that Binance methodically executes its plan to launch ten local cryptocurrency platforms, where Crypto-Fiat trading will be available and the next such platform should be the exchange in Malta.