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After much anticipation and months of waiting, the Binance Singapore crypto exchange is now live, but lacks a lot of features compared to the company’s main exchange, as first reported by TechCrunch.
Currently the Singapore exchange only offers the purchase of Bitcoin using Singapore dollars, a trading pair that limits the exchange greatly. The Binance Singapore website states that in order to buy this trading pair you must link your Xfers account, which is a Singaporean approved crypto wallet. Once you do this, the site claims that you’ll be able to buy and sell Bitcoin as much as you wish.
A spokesperson for Binance spoke to TechCrunch regarding the launch of Binance Singapore:
“Binance is excited to bring world-class blockchain technology to Singapore and we look forward to showcasing Binance’s tier one safety and security measures to the world. BTC/SGD is the initial pair Binance Singapore is offering with the soft launch and there may be more pairs added as regulations allow.”