Binance, #1 cryptocurrency exchange is all set to capture the crypto crowd of Australia with the launch of a new service called ‘Binance Lite’. The new service is Binance’s first fiat-to-crypto on-ramp in Australia, meaning Australians can visit at Newsagents or technology news outlet to exchange their fiat to crypto.
Binance Lite Australia – Buy Bitcoin with AUD
Per the Binance’s official announcement, the Binance Lite will enable customers to buy crypto assets using their fiat money – across and over 1300 supported newsagents in Australia. At present, Binance Lite will facilitate the purchase of Bitcoin only – with plans to support other altcoins and fiat in the near future.
Full details below 👇https://t.co/aD1M6kK0Mp
— Binance (@binance) March 20, 2019
Speaking about the new service launch, Binance’s Chief Finance Officer, Wei Zhou details;
Binance Lite Australia further expands digital currency adoption by providing easier ways to buy [Bitcoin]… Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause.”
Similarly, Binance blog notes Zhao’s statement;
“Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause,”
Binance’s Smart and Quick Move Captures Country’s Interest inBlockchainn Innovation
The largest crypto giant is at its best and quick way to capture the country’s forefront blockchain initiative. As Coingape recently reported joint Ministries from Australia has announced national blockchain roadmap, boosting with AUD10,000 funding from the federal government.
If we recall, Binance’s latest initiative of Binance Lite comes in a wake of Austrian Joint ministry’s announcement of making Australia as the global leader in terms of blockchain technology. As such, the joint ministry also announced to bridge the gap between Blockchain based Austrian firms and customers with their support.
“The national strategy puts us on the front foot in exploring how government and industry can enhance the long-term development of blockchain and its uses,”
The report further reveals that Binance Lite users should undergo with KYC and AML procedures. Upon completing and verifying the account, Australian customers of Binance lite will be able to place an order online, they can deposit cash at a newsagent and they can receive their bitcoin within minutes. All such service has backed a fee of five percent for operations. It looks like, Binance is leaving a definite mark among the crypto crowd in Australia, following the big move by Ministry for Industry, Science and Technology Karen Andrews and Minister for Trade, Tourism and Investment Simon Birmingham.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com