Binance launches office in Singapore

Binance gearing up to launch office in Singapore

As it has promised to do, the Binance cryptocurrency exchange continues to push across the globe. It has launched new fiat-to-crypto exchanges in countries such as Australia, Uganda, Lichtenstein and Jersey and has plans for one in Argentina, as well. Now, it has announced that a new fiat-to-crypto exchange will be launched in Singapore later this month. 

Binance CEO Changpeng Zhao announced the launch on his Twitter feed, stating, “#Binance Singapore will come online in April. It will be our next Fiat to Crypto exchange servicing $SGD [Singapore dollar].”

He didn’t go into detail regarding which crypto assets would be supported or the exact launch date, but the move is part of a plan first revealed by Zhao last September that will see fiat-to-crypto exchanges put on virtually every continent. If the exchange in Singapore is similar to that of Jersey and others, Bitcoin Core (BTC) and Ether (ETH) will be supported.

Zhao has also provided an update to the company’s upcoming decentralized exchange (DEX). That exchange began beta testing in February and is expected to go live on the mainnet at some point this month. The exchange will be built on the Binance Chain blockchain and will be similar to the company’s existing centralized exchange. In addition, however, it will provide an option to generate a 34-word seed phrase for private keys and includes a “balances tab” that gives users a quick view of their accounts’ statuses. 

In a another announcement by the company, Binance has said that the upcoming Trust Wallet will include a staking feature. “Trust Wallet has been our crypto wallet app of choice for securely sending, receiving, storing, and using cryptocurrencies. Soon, you can also use Trust Wallet to stake crypto. Binance’s official crypto wallet app is preparing a new staking feature, which is set to launch by the end of the second quarter,” explains Binance.

The Trust Wallet will also include support for Tezos and Binance explains that the app is “preparing for the addition of native support for staking in the Tezos on-chain governance mechanism.” The wallet added support for Ripple’s XRP last month and also now allows users to purchase crypto with credit and debit cards.

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