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  • Writer's pictureL Xu and M Bacina

Binance launches fiat-to-crypto exchange in Australia

Updated: May 2

On 28 July 2020, Binance Australia launched its AUD fiat-to-crypto platform that allows Australian users to trade digital currencies in accordance with the AML/CTF laws in Australia.

Binance Founder and CEO Chengpeng Zhao (CZ) 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 Australia has taken a localised approach to provide Australians access to the features and functions of and the broader Binance ecosystem which currently is reported by CoinMarketCap as the largest digital currency exchange globally with volume of over USD$7 billion.

This latest offering is in addition to the Binance Lite Australia platform which allows Australians to purchase bitcoin with fiat AUD through newsagencies across Australia and via internet banking provided by POLi payments.

Binance US staking rewards offering and the Binance Card are not yet available to Australians. However, it will not be a surprise if Binance expands its offering to Australians in the future with other international players also entering the Australian market.


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