Binance has finally set a date for the launch of its Singapore exchange arm. According to the CEO of the exchange, Changpeng “CZ” Zhao, the new exchange is going to get launched next week.
Binance Singapore to Launch Next Week
CZ confirmed this time frame in a recent statement he made at the Paris Blockchain Week. He said: “Next week we are going to launch the Singapore simple buy/sell on-ramp. It will actually be a new product we are launching, as a very easy buy/sell platform so users in Singapore can buy and sell bitcoin with Singapore dollars.”
CZ also stressed that for now, the exchange will be focused on Bitcoin Core (BTC). “it will just be bitcoin, but we hope to add more [cryptocurrencies]. For a lot of these regulated jurisdictions, it’s easy to start with things that people know and understand and you can gradually build on that.” he said.
Binance has been focused on building multiple fiat-to-crypto gateways cutting across several regions in recent time. The exchange has partnered with Simplex to let traders use Visa and MasterCard to buy a wide range of cryptos. Also, it has launched at least two new exchanges since the beginning of the year.
BinanceChain to Launch in Few Hours?
Going by a recent tweet from the Exchange’s official account, which reads:
“Today marks the birth of a new genesis block. Who’s ready?, the exchange is likely to launch its ‘native blockchain platform’, BinanceChain.
As previously announced, once the platform launches, the exchange’s native token—BNB will migrate from the Ethereum blockchain to Binance’s native blockchain, BinanceChain.
To mark this new beginning the exchange has also launched a new logo.
The CEO of the exchange has also updated his social media Icons with the new logo.
If all goes according to plan, the launch of the chain will give the exchange a significant edge over others.