Binance to Unveil Fiat Trading Info

Fiat trading option is expected to be launched by the end of 2018
12 June 2018   476

One of the leading crypto exchanges Binance intends to provide its users with the opportunity to trade fiat. It is expected that by the end of 2018 this option will be available, Bloomberg reports.

This statement was made by the CEO of Binance Changpeng Jao.

According to him, the addition of fiat pairs was made possible by opening an office and a bank account in Malta. Also, the exchange plans to add other financial currencies, but the head of the exchange did not disclose the details at this stage.

In addition, Binance plans to obtain an exchange license for Jersey Island and to open an office there with a staff of 100 employees. The company also negotiates with the authorities and banks of Taiwan, Changpeng Jao ​​added.

Binance Exchange was founded in July 2017 and by now the number of users of the exchange is 9 million people, while at the beginning of the year there were 2 million. In the first quarter of this year, the company earned $ 200 million with an average trading volume in the range between $ 1, 4 - $ 1.5 billion.

Binance to Start New Fiat Exchange Beta Test

As reported, CEO of the exchange had announced the new platform at event in Singapore
17 September 2018   152

On Tuesday, September 18, Binance will launch closed beta testing of a new trading platform with support for Fiat in Singapore.

The corresponding statement of the head of Binance Changpeng Zhao made on Twitter.

I just slipped that we will begin Binance Singapore fiat exchange live money closed beta testing on Sept 18th, in 3 days. Invitation only first. Exciting!
 

Changpeng Zhao

Founder, Binance

Other details of the new Binance initiative have not yet been disclosed, but it can be assumed that the new exchange will support the Singapore dollar.

As Finance Magnates clarifies, Changpeng Zhao also reported on the launch of the new platform at the blockchaain conference in Singapore, where co-founder and CEO of the Gemini exchange Tyler Winklewoss also attended.

Last week Binance signed a memorandum of understanding with the Stock Exchange of Malta, under which a platform will be launched to trade tokens with the properties of securities.