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Binance Planning to Initiate Closed Beta Testing of New Crypto Fiat Exchange in Singapore

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As per yesterday's tweet of Binance co-founder and CEO Changpeng Zhao, Binance will soon begin private beta testing a crypto-fiat exchange at Singapore. It is to be noted that Binance is the largest crypto exchange at present. As Changpeng Zhao divulged, the testing will be initiated on September 18. He added that they will initiate Binance Singapore fiat exchange live money closed beta testing on Sept 18th. The participation will be invitation only first.

As per the reports of Finance Magnates, before posting the news on Twitter, Changpeng Zhao initially divulged the plans to start the fiat exchange while giving a speech at a recent blockchain event organized by crypto assets-specializing firm Cumberland. The conference also featured Tyler Winklevoss, another disruptor of the industry. Tyler Winklevoss is the co-founder and CEO of crypto exchange Gemini.

"Singapore was ranked the third most favourable country for Initial Coin Offerings (ICOs)"

While no additional particulars have been enumerated, the crypto-fiat Singapore-based exchange will probably support the local Singapore dollar, as per the report of Finance Magnates.

Singapore was ranked the third most favourable country for Initial Coin Offerings (ICOs) given the number of top global projects coming from the country.

"Binance and Liechtenstein Cryptoassets Exchange (LCX), declared the launch of crypto-fiat exchange in Liechtenstein"

Last week, Binance signed a Memorandum of Understanding with the fintech and digital asset subsidiary of Malta Stock Exchange, MSX PLC, in order to launch a new security token digital exchange.
Moreover, Binance LCX, a joint venture between Binance and Liechtenstein Cryptoassets Exchange (LCX), declared the launch of crypto-fiat exchange in Liechtenstein, earlier in August. This move has been carried out in order to enable trading between Swiss Francs (CHF) and Euros (EUR) against major virtual currency pairs.

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