Binance launches cash-to-crypto service in Australia

Cryptocurrency exchange Binance has unveiled a new cash-to-crypto service in Australia known as ‘Binance Lite Australia’ in a bid to promote mainstream crypto adoption.

Binance is one of the world’s leading cryptocurrency exchanges and offers a range of services.

Binance Lite Australia is a cash-to-Bitcoin brokerage service where users can purchase Bitcoin by depositing cash at one of a network of 1,300+ supported vendors across Australia.

The move was announced in a Binance blog post. The exchange is dubbing the new service as the “easiest way to buy Bitcoin with cash in Australia”.

The service marks Binance’s first fiat gateway on the “blockchain continent”. Binance believes the move will help foster crypto adoption in Australia.

Currently, Binance Lite Australia offers the option to buy Bitcoin using Australian dollars, with plans to support more cryptocurrencies in the future.

Following account verification on the Binance Lite website, users of the service can place an order online and successfully deposit cash at their nearest newsagent store.

They should then receive their crypto within minutes.

The blog post details how “Binance Lite Australia is simple and easy to use, and its state-of-the-art order processing technology guarantees maximum security.”

Wei Zhou, Binance CFO, commented: “Binance Lite Australia further expands digital currency adoption by providing easier ways to buy Bitcoin. We are excited to continue to roll out more fiat-to-crypto gateways around the world to support the growth of our industry.

“We firmly believe that more adoption will lead to more innovation and economic opportunities.”

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