Binance Australia, the Australian expansion of international crypto-giant Binance, has launched to market, providing Aussies with a crypto currency exchange platform.
Binance Australia is a new digital currency marketplace that provides a fast, secure and reliable platform to buy and sell crypto currency in Australia.
Binance Founder and CEO Changpeng Zhao says launching into the Australian market is the next step for Binance, with Australia positioned at the forefront of blockchain innovation.
Binance’s interest in the Australian crypto market
“Australia is a global leader in cryptocurrency and has a really big market for the industry. Aussies are forward-thinking and accepting of the new technology and revolutionary change that crypto and blockchain can bring to finance and business applications,” said Zhao.
“There is great uptake with our existing offerings, Binance Lite Australia and TravelbyBit.
These offerings have provided us with valuable user feedback and market insight to help expand our services and launch to the broader Australian market when the time is right.
“We’re very excited to be launching Binance Australia, providing Australians with access to the world’s number one exchange and further facilitating the growth of crypto.”
In March 2019, Binance officially entered the Australian market in the form of Binance Lite Australia, a cash-to-bitcoin brokerage service operating through a network of 1,300+ supported newsagents across Australia and via internet banking powered by POLi payments.
Binance also invested AU$3.48 million into Queensland-based crypto-travel start-up TravelbyBit in 2018, which today is working with the Queensland Government to use blockchain technology to boost tourism in regional Queensland.
The Australian Government was one of the first in the world to recognise cryptocurrencies as a valid, ownable asset, and there have been numerous innovative blockchain and digital currency-related projects originating in Australia over the last seven years.
Comments on Binance’s entry of the Aussie crypto market
Binance Australia CEO, Jeff Yew said,”I am proud to be a part of Australia’s rise towards the digital economy of the future. There’s been an incredible demand for Binance in Australia. The launch of the exchange is very exciting news for cryptocurrency users nationwide.”
“By lowering the barrier of converting dollars to crypto, we’re expecting to see more Australians, young and old, consider crypto as part of their investment strategy,” said Mr Yew.
“Australian users feel comfortable and safe using the platform. Binance Australia is registered with AUSTRAC as a digital currency exchange and is compliant with all standards.”
“Binance is a trusted body and a key leader in the space. It’s important for us to drive awareness and education of crypto currency to strengthen adoption in Australia.”
“Further adoption will lead to more innovation and economic opportunities nationwide. Australian users can fund their accounts from over 100 banks and credit unions for free.
With 24/7 customer support, a simple-to-use interface and a high level of liquidity, Binance Australia is perfect for those just getting started or more advanced traders.”
Users need to complete a simple and quick identity verification process which will allow them to deposit AUD directly from their bank accounts using PayID with no fees attached. Users can withdraw funds upon request by linking their bank account to their Binance Australia profile.
Verified users gain the ability to buy and sell cryptocurrencies like Bitcoin, Ethereum and BNB, through a platform capable of processing more than 1.4m orders per second.