According to a recent official Tweet by the CEO of the Exchange ‘Changpeng Zhao,’ the company would be starting its beta services for its new launch of ‘ Crypto-Fiat Exchange’ from 18th Sept. this year.
Mentioning further, the Founder and CEO of the company stated that:
“Isimplyslipped thatwe’llbegin #Binance Singaporefiatexchange livemoneyclosed beta testing on 18th Sept.Invitationssolelyfirst. Exciting!”
According to a local news source ‘Finance Magnates’,beforeposting the news on Twitter, Zhaoinitiallydisclosedthe plans to launch the new fiatexchangewhereasspeaking at a recent blockchain event scheduled by the crypto assets-specializing company ‘Cumberland’. The conferenceconjointlyfeatured another disruptor of this era — Tyler Winklevoss, co-founder andchief executive officerof crypto exchange Gemini.
While nomoredetailsfor now have been revealed by the company, the crypto-fiat Singapore-based exchangecanpresumptivelysupport thenativeSingapore dollar, as per what the Finance Magnates noted.
Earlier in theperiod of mid July, Singapore wasgradedas the 3rd most favourable country for the ICO’s in terms ofthe total amountoftop globalICOprojects.
Even earlierthis week only, Binance signed aMemoof Understanding ‘MOU’ with the Malta Stock Exchange’s fintech and cryptoassetsubsidiary, MSX PLC, to launcha replacementsecurity token digital exchange.
And earlier in Aug, Binance LCX, aventurebetween Binance andLiechtensteinCryptoassets Exchange ‘LCX’,proclaimedthe launch of crypto-fiat exchange inLiechtensteintoallowtradingbetween Swiss Francs ‘CHF’ and euros ‘EUR’ against major crypto currencies pairs.