On Saturday, September 15, at the Singapore Cumberland Summit, Changpeng Zhao, founder and CEO of Binance exchange, announced his plans to launch a fiat-to-cryptocurrency exchange in Singapore. According to him, the closed beta test will begin on September 18.
This means that there is a possibility that this exchange will be launched before the end of this year, and that it will offer trading pairs SGD/BTC and SGD/ETH.
It is not surprising that Binance decided to open an exchange in Singapore - in a place with relatively low taxes, which has a reputation as a suitable country for conducting an ICO. Funds such as Litecoin, TRON and VeChain have their headquarters there. Singapore also hosted ICOs such as TenX, Golem and Qtum. Many well-known companies have representative offices in Singapore - Coinbase, Gemini, Huobi.
In June 2018, the Japanese corporation LINE announced the imminent launch of its own cryptocurrency exchanger in Singapore called BITBOX. The exchange began operations on July 16, 2018.
On September 11, Malta Today reported that Binance representatives signed a memorandum of understanding with Malta Stock Exchange. This will make it possible to trade security tokens on a new digital platform.
However, perhaps the most interesting statement by Changpeng Zhao was made on September 12, when he said that he did not agree with Vitalik Buterin that the cryptocurrency market had already reached maturity. According to him, the market can grow another 1000 times.
According to cryptoglobe.com
You May Also Like
Exchanger Bitoasis is trying to reach an agreement with GCC regulators
According to Arabian Business, Dubai-based cryptocurrency exchange Bitoasis said it is working with Gulf Cooperation Council (GCC) regulators to “create a regulatory framework in light of the Saudi Arabian government's ban on digital currencies.” The exchanger's website states that its services are currently available in the UAE, Kuwait, Bahrain, Oman and Saudi Arabia.
FSS joined the investigation into violations of the UPbit exchange
South Korea's Financial Supervisory Service (FSS) has joined an investigation by the Financial Intelligence Unit (KIU) and the Financial Services Commission (FSC) into alleged irregularities at the country's largest cryptocurrency exchange, UPbit.
