Binance to launch Singapore fiat-crypto exchange
Binance is set to unveil a fiat currency exchange that will be based in Singapore. CEO Changpeng Zhao said the new exchange is currently under an invitation-only beta testing phase beginning on September 18th, 2018.
It’s worth noting that Singaporean authorities do not regulate crypto exchanges because crypto is not recognized as legal tender in the country, but exchanges are nonetheless required to abide by AML and CFT regulations.
There is no doubt or misconceptions about Binance being the major cryptocurrency exchange in the last year. The exchange’s CEO, Changpeng Zhao (Cz on Twitter), announced this Saturday about Binance soon to launch a live money beta testing of Singapore FIAT exchange, starting from Sept 18th. This feature is expected to be available based on invitation only. This tweet is coming on the second day (out of three) of Cumberland summit, taking place in Singapore.
However, since most Cryptocurrency exchanges mostly depend on ETH or BTC as a base asset for liquidity, the listing of crypto tokens paired with FIAT will surely be another great step towards adoption of crypto.
Day 2: @JamesRadecki32 starting off breakout #2 with @tylerwinklevoss and @cz_binance on crypto exchanges. @GeminiDotCom @tylerwinklevoss @ApoloOhno @arrington @TusharJain_ @MatthewRoszak @missbitcoin_mai #cumberlandsummit #crypto #bitcoin pic.twitter.com/Sk2XuU1Bhc
— Justin Chow (@Justinchow08) September 15, 2018
Argentina’s Uber riders pay with BTC, since credit cards were banned
Argentina has banned the use of credit cards for purchasing Uber rides, Uber responded by accepting Bitcoin as payment for rides. Since the state issued an injunction banning credit cards as payment for Uber in 2016, users have been able to use Bitcoin via the Xapo debit card.
According to the President of Bitcoin Latam and CEO of RSK Labs, Diego Gutierrez Zaldivar “In general Uber users are highly knowledgeable about technology and more prone to Bitcoin understanding and usage, fears about Bitcoin usually come from more illiterate users.”
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