Vertex is a venture capital firm, one which Binance is partnering with to create a fiat-to-crypto exchange platform in Singapore. The proposed exchange platform will support the buying and selling of Bitcoin, Ethereum and Binance coins (BNB), all in exchange for the Singapore dollar. The company is also looking to expand its services by including other cryptocurrencies to the platform in the future.
Binance SG went live in April 2019 as a limited-service platform. Third of its kind, the platform has experienced steady growth in trading volume and increased numbers of users. Following its 20% increase every week in the number of registered users, the exchange trading platform decided to fully place themselves in the heart of one of the world’s most crypto receptive regions. Exploiting all the benefits of the region to the fullest. In step with its exceptional success in Uganda and Jersey, where the exchange attracted over forty thousand crypto investors in one week, Binance SG is looking to achieve the same response in Singapore. A place that is known as a haven for cryptocurrencies.
CEO of Binance Changpeng Zhao said:
“We are humbled by the positive market response to Binance Singapore thus far, which is largely due to our strategic investment partner.”
Binance and Vertex – A powerful Combo
Looking at Binance’s top notch track record in the crypto industry and Vertex’s impeccable experience in showing forth technological advancements in Asia, we can say that Binance SG will make it big in the Asian crypto markets. All these coupled with the fact that the two firms are interested in establishing a blockchain-based economy in Singapore.
The Venture Capital funds group has been known over the years for quality, trust and technological innovations in the Asian region.