Binance Launches Fiat-to-Crypto Trading Platform in Australia

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

Cloud Division

Binance Launches Fiat-to-Crypto Trading Platform in Australia

July 30, 2020

Binance has launched a fiat-to-crypto trading platform providing Australian users with a fast, secure, and reliable platform to buy and trade digital currencies with the Australian Dollar (AUD).

Going by the name of Binance Australia, the platform allows Australian residents to deposit AUD directly from their bank accounts at zero fees through PayID and to withdraw funds by linking their Australian bank accounts to Binance Australia and make a withdrawal request.

Changpeng Zhao, Founder and CEO at Binance
Changpeng Zhao, Founder and CEO at Binance

Changpeng Zhao, Founder and CEO at Binance, 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 connects to the broader Binance ecosystem so its users can access all features and functions on Binance.com, including high speed, security, and deep liquidity. Prior to launching the Australian partner, the world’s leading cryptocurrency exchange
established joint ventures with leading global partners to create fiat-to-crypto trading platforms in Singapore, Korea, Uganda, Jersey, and the United States, with Binance UK to follow.

In March 2019, Binance launched a secure and reliable brokerage service through a network of 1,300+ newsagents across Australia and via internet banking powered by POLi payments, allowing users to buy Bitcoin with AUD.

This month, Binance partnered with CM-Equity AG, a leading German investment firm providing asset management and brokerage services for crypto assets, to expand services for German and European customers. CM-Equity is a fully regulated German investment firm that is licensed by the German Financial Supervisory Authority (BaFin) to operate proprietary trading and brokerage services.

The Malta-based cryptocurrency trading platform has recently launched a cloud operation to help business clients and partners set up their crypto exchanges using Binance’s tech infrastructure. The service includes matching engines, risk controls, and data security systems.

In February 2020, Binance made a new addition to its senior-level executive committee by onboarding Iskander Malikov to serve as its new Director for Fiat division for Europe and CIS (Commonwealth of Independent States) market regions.

Binance has also recently acquired crypto-asset trading platform JEX, a specialist in spot and derivatives trading services which focuses on further building the cryptoasset derivatives market, in order to offer Binance users with professional services including futures contracts, options, and other derivative products.

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