Zhou further elaborated that form now in Singapore, “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.”
The said project of building fiat-to-crypto gateways began in January when Binance partnered with Simplex to enable traders to use Visa and MasterCard for buying a wide range of cryptos. In March, Binance went on to launch Binance Lite in Australia that allows users to buy bitcoin at newsagents in over 1,300 locations across the country.
Currently standing on No.5 exchange by 24-hour trade volume (when excluding no-fee trades and transaction mining), according to CoinMarketCap, Binance has been both rapid and eclectic, in terms of expansion. Whether it is taking in Europe and the U.K. via the islands of Malta and the British Crown Dependency of Jersey to the set up in Uganda, for the need to bring financial inclusion to the underbanked in that region.