Binance has added more trading pairs against the Singapore dollar. The Singapore dollar (SGD) is now paired with the exchange’s own coin, Binance Coin (BNB), and Ethereum (ETH).
Since the launch of Binance DEX in Singapore last month, BTC/SGD has been the only trading pair on the platform. These new trading pairs are therefore a welcome addition on the platform. This announcement was made via twitter on Thursday.
CEO of Binance, Changpeng Zhao, announced in twitter the launch of Binance Singapore platform On April 3, 2019. He pointed out that the launch is expected to take place before the end of April. Binance Singapore alongside Binance Uganda and Binance Jersey are currently the only Binance outlets supporting fiat. The exchange was launched three weeks later according to plan.
The fiat support for Binance Singapore will be powered by Xfers. Xfers is a Singapore-based payment services provider. Adding a local payment service provider to this new launch will help create a crucial fiat gateway. It seems the Singaporean government have always had a soft spot for Binance. In October last year, Temasek Holdings, a Singaporean government establishment invested in Binance, so as to enable the company open a shop in Singapore.
About Binance and Binance Coin (BNB).
Binance coin (BNB) is the native coin of crypto exchange Binance. It is currently listed on a number of exchange but Binance is pressing for it to be listed on other exchanges so as to increase its adoption and trading. Binance’s decentralized exchange (DEX) was opened to public testing On Feb 20, 2019 and it makes use of Binance’s public blockchain known as Binance Chain.
Early last month, Binance was attacked and lost over $40million worth of bitcoin to hackers. This recent development shows the exchange platform is back in business and there’s no stopping it.