Binance, the cryptocurrency exchange giant, continues to hit new milestones with every news announcement. The latest is that the exchange platform is now partnering with Vertex, the venture capital firm, to introduce a fiat to cryptocurrency exchange platform in Singapore.
At this stage, the exchange platform will support buying and selling of Bitcoins, Ethereum and Binance coins in exchange for Singapore dollars. That said, the company plans to extend its services by adding other cryptocurrencies in future.
Binance ups its game
Third of its kind, Binance SG, has been in the market as a limited-service platform since Apr 2019. Since then, the exchange has witnessed a steady growth in number of users and trading volumes.
Given the 20% per week increase in its number of registered users, the largest digital assets trading platform saw the opportunity and decided to fully establish themselves in one of the world’s most crypto-friendly regions.
Following its phenomenal success in Uganda and Jersey, where it managed to attract over forty thousand crypto investors within one week, Binance SG hopes to achieve similar response in Singapore, a place synonym for crypto boom.
“We are humbled by the positive market response to Binance Singapore thus far, which is largely due to our strategic investment partner.” exclaims Changpeng Zhao, CEO of Binance.
Binance and Vertex – A powerful partnership
Binance’s experience in crypto markets coupled with Vertex’s impeccable track record in showcasing technological growth in Asia is likely to make it big in Asia as both firms are determined to establish a blockchain-based economy in the region.
The collaboration with Vertex Ventures China and Vertex Ventures Southeast Asia and India only makes it better as the venture capital funds group has been synonymous with quality, trust and technological innovations in Asian markets.