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Binance Launches Fiat-to-Crypto Trading Platform for Australia

The Binance exchange is extending its grip one of the world’s market leader with the introduction of a fiat-to-crypto trading platform by its new entity in Australia. Binance said that the new trading platform will provide its Australian users with a fast, secure, and reliable platform to buy and trade digital currencies with the Australian Dollar (AUD). Through Binance Australia, users can make direct deposits from their bank accounts to deposit Australian Dollars (AUD) using PayID, the cash which can then be used for crypto trading all at zero fees.

Commenting on the new offering, Binance CEO Changpeng Zhao said:

“Australia has been at the forefront of blockchain innovation with favorable policies. By providing a secure and regulated platform for trading digital currencies with AUD, Binance Australia aims to make crypto more accessible among Australian users, furthering our mission to provide crypto access and drive freedom of money worldwide.”

Binance exchange is arguably one of the exchanges with the most prominent expansion activity in recent times. Established in 2017 by Changpeng Zhao, the exchange made its foray into similar fiat to crypto trading in 2019 with the company’s announcement of Binance Jersey, an independent entity from its parent Binance.com exchange, with the aim to expand its European influence. The jersey-based exchange offers fiat-to-cryptocurrency pairs, including the Euro and the British pound.

Binance has had a lot of impressive partnerships and acquisitions since the turn of the year. It acquired popular digital currency price aggregator CoinMarketCap back in May. Additionally, Binance worked on its payment cards as with an action plan to take a majority stake in popular payment startup Swipe.io as a way to further boost its services. Binance has established joint partnerships with leading global partners to create fiat-to-crypto trading platforms in Singapore, Korea, Uganda, Jersey, and the United States, with Binance UK currently under incubation. These trading platforms allow users to easily and securely buy and sell digital currencies to select local currencies.

Representing the latest addition to the Binance growth outreach, Binance Australia will provide the entire features as obtainable on the main Binance platform.

“As a partner of Binance, Binance Australia connects to the broader Binance ecosystem while catering to the Australian market, enabling Australian users to access all features and functions on Binance.com, including high speed, security and deep liquidity. Its localised approach and service also include active participation and engagement with local communities and governments to ensure a high industry standard and user-first model,” the official statement reads.

Binance Launches Fiat-to-Crypto Trading Platform for Australia

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