Binance, the world’s largest cryptocurrency exchange by volume, has officially launched its services in Singapore. According to TechCrunch, the launch of the service comes just six months after the crypto exchange received an investment from Vertex, a VC firm that is backed by Singapore-based sovereign fund Temasek. Binance has notably been testing its services in Singapore since late 2018 and has been working with Singapore regulator, MAS.
Binance describes itself as a blockchain ecosystem comprised of Exchange, Labs, Launchpad, Info, Academy, Trust Wallet, and Blockchain Charity Foundation (BCF). The exchange also claims it is one of the fastest and most popular cryptocurrency exchange platforms in the world, capable of processing over 1.4 million orders per second. Binance also focuses on security, robustness, and execution speed, which attracts enthusiasts and professional traders alike.
“The Binance exchange provides access to hundreds of digital currency pairs, while maintaining security, liquidity and high-speed. The platform offers some of the lowest trading costs in the industry at 0.1% or even less through the use of Binance Coin. The exchange strives to give its users access to some of the latest blockchain/DLT technologies with new cryptocurrencies being listed all the time.”
TechCrunch also reported that Binance’s Singapore launch is the exchange’s third launch, with exchanges now available in Uganda and Jersey. The Singapore exchange allows customers to purchase Bitcoin only and at fixed prices.