The exchange is considering launching its Fiat-crypto platform in Singapore next week. The CEO, Changpeng Zhao, voiced this idea at the beginning of the month, saying that the launch will take place in April.
Platform launch confirmation
However, the confirmation came from the financial director of Binance, Wei Zhou, who said: "Next week we are going to launch a simple Singapore platform."
Speaking in Paris, Zhou said: "This will be a really new product, the idea of which was to create a very simple platform for buying/selling, so that users in Singapore can easily buy and sell bitcoins for Singapore dollars".
Interesting in the section: Features of fiat money
The Fiat-to-Crypto platform will be launched in Singapore soon. It is reported that for some time the project will be limited and only BTC will be available, but soon the developers promise to correct the situation and add more crypto.
Also recall that on April 16th the Binance cryptocurrency exchange reported that it destroyed 829,888 BNB tokens.
A recent April report from Binance showed that the "herd effect" significantly affects the course and reversal of cryptocurrency trends. At the same time, the report says that the "bottom" of Bitcoin has already been passed and the market is not threatened by a price correction.
Editor: Yulia Krasnaya