Binance to open up Fiat Conversion in Singapore
Binance has announced that tomorrow, September 18th, will be the first date for a beta testing of fiat to crypto conversion within Singapore. Changpeng “CZ” Zhao announced the following on Twitter:
The initial offering will be in a 3-day testing period for select alpha testers with the possibility of opening up to the general public in the near future. With Binance being the crypto exchange leader in terms of volume, this opens up a huge potential of new investors to the space. Singapore has in the past shown a very accepting nature towards cryptocurrencies and has been viewed as a safe haven for many Initial Coin Offerings. This development may lead to further volume into Binance and allow more investors the potential to add money into the cryptocurrency market.
Binance has earlier teamed up with Liechtenstein Cryptoassets Exchange (LCX) to support Euro and Swiss Franc fiat conversions. When adding Singapore fiat conversions, Binance moves into a power position for exchanges and is cementing their place in the space. We will update you with any news in regards to the expansion of fiat conversions with Binance.
