Binance confirms Singapore expansion will happen this month

Cryptocurrency exchange Binance has confirmed that its Singapore branch will open later this month, with the platform set to offer a fiat gateway for the Singapore dollar.

Binance CEO Changpeng ‘CZ’ Zhao attended the Deconomy conference in South Korea this week. While speaking on a panel about decentralisation, the 42-year-old revealed that Binance’s fiat-to-crypto exchange in Singapore will be launched later this month.

“Binance Singapore will come online in April. It will be our next fiat-to-crypto exchange servicing SGD,” he said. 

The Maltese exchange has continued to grow on a global scale over the past year, launching a GBP/EUR fiat gateway in Jersey in January while the Binance DEX testnet went live in February.

The DEX will be operational with the use of Binance’s native blockchain – the Binance Chain. Trust Wallet will also be implemented within the DEX to allow users to retain control of their private keys.

Trust Wallet CEO Viktor Radchenko spoke to Coin Rivet last week about the importance of security and when exactly the full release of the DEX is going to launch.

“I think our plan is to launch as soon as possible, so hopefully a month or two away,” Radchenko told Coin Rivet.

He added: “I think the faster the better. We already have integration on the mobile side. We are just waiting for stability, and once that’s done we’re going to launch it. We just need to turn the switch on.”

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