Binance to Open Fiat-to-Crypto Exchange in Singapore

The global crypto exchange has announced that it is opening a new fiat-to-crypto exchange in Singapore.
Earlier today in a tweet, Binance revealed that it is planning to start the trading operations in the new exchange later this month.

“ Singapore will come online in April. It will be our next Fiat to Crypto exchange servicing ” –

— Binance (@binance)

However, the exchange did not provide any additional details about its upcoming subsidiary.
This decision by Binance was not abrupt as, in October last year, the exchange already announced that it has received funds from Vertex Ventures to expand its crypto-to-fiat services in Asia. The exchange specifically mentioned Singapore as the hub for its new exchange.
“Southeast Asia is a hotbed for significant growth. Over the past few years, the region registered some of the best economic growth rates in the world,” Binance then noted.
“For this region, there’s no better gateway to Southeast Asia than Singapore…The multicultural country, whose role as finance hub is fueled by significant innovation, has begun to play a significant role in the blockchain sector. From its businesses to the government, Singapore has shown tremendous support for blockchain and distributed ledger technology.”
An Exchange in Ever Continent
Binance is one of the largest crypto exchange in the world handling billions worth crypto trades every day. Its primary exchange lists cryptocurrencies against other major cryptos and, at best, against stable coins to replicate stability of fiat tradings.
The crypto exchange first offered crypto-to-fiat trading by opening a last year. Later, the company set up a base in the channel island of Jersey to offer similar
With Singapore in the list, Changpeng Zhao, CEO of Binance, is heading towards fulfilling his ambition to open a crypto exchange in every continent, which he revealed in a blockchain conference last year.
Last month, Finance Magnates reported that the crypto exchange leader is allowing its Australia-based clients through its news subsidiary named Binance Lite Australia.