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Binance has launched a new crypto-fiat gateway in Australia. The world's largest trading volume cryptocurrency market on Tuesday launched "Binance Lite Australia" to help crypto traders, long-term investors and beginners looking for a simple way to buy Bitcoin at cash.
Binance's new cash-to-Bitcoin brokerage service will operate through a network of more than 1,300 newsstands across Australia. In-store purchases will require customers to complete a verification process to comply with AML regulations.
Binance Lite Australia allows users to place an order online and then deposit cash at the nearest newspaper kiosk to buy Bitcoin in cash (AUD).
The platform plans to support crypto-currencies and additional purchase options.
The new platform is part of Binance's broader plans for its global expansion, which has seen tremendous activity over the last 12 months. The company has developed an ecosystem of blockchain initiatives, exchanges, bridges and activities to increase the adoption of cryptocurrency around the world.
For example, the company launched Binance Launchpad to raise funds for blockchain-based startups. Last month, it successfully hosted a sale of Initial Exchange Offer Tokens (IEO) for Fetch.AI, a next-generation protocol aimed at combining machine learning, learning and learning. artificial intelligence and distributed accounting technology, for which he collected $ 6 million in 22 seconds.
Today, Binance Launchpad has completed another super-fast IEO. In 17 minutes and 35 seconds, he raised $ 4 million for Celer Network, a Layer 2 scale platform for off-line payment transactions and smart contracts.
In January, Binance integrated credit card payments with Binance.com and launched Binance Jersey, a cryptocurrency fiat exchange with no deposit fees and one of the cheapest exchanges for the exchange. euros and pounds sterling with BTC and ETH. At the same time, it also launched a crypto-to-fiat platform in Uganda in January 2019 and invested $ 2.5 million in TravelbyBit, an Australian start-up specializing in encrypted travel booking, the year last.
In Argentina, Binance Labs, the company's investment arm, is supporting new businesses as part of a matching fund initiative.
Binance Coin, the native cryptocurrency of Binance Chain, which will fuel the company's next decentralized exchange, is the best-performing digital badet among the top 10 crypto-currencies in the world.
Binance Lite, recently launched, is powered by InvestbyBit, an independent subsidiary of Binance.com. By interfacing with physical stores, Binance is able to leverage a well-established network of consumer hubs to reach people and distribute crypto-currencies, without having to create additional physical locations, such as branch offices. of the traditional banking system. On the contrary, the newsstand collaboration allows Binance to deploy a national strategy designed for fast exposure of bitcoin and crypto-currencies.
Changpeng Zhao, CEO of Binance, says:
"Australia has been at the forefront of blockchain innovation and we hope that Binance Lite Australia can play an important role in promoting this cause."
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Disclaimer: Daily Hodl's advice is not investment advice. Investors should exercise due diligence before making high-risk investments in Bitcoin, Cryptocurrency or digital badets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling crypto-currencies or digital badets, and the Daily Hodl is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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