Binance, the Global Cryptocurrency exchange has just launched its new services, Binance Lite Australia, that will enable users to purchase crypto in the Australian dollar.
Under the name of Binance Lite Australia, the new service was confirmed in a blog post. According to Binance, Binance Lite Australia is considered as a step towards better adoption and use of digital assets in the Australian market.
As per the announcement, Binance states that until now, only one option is offered. Actually, through the platform, users from Australia can use the services of the new platform to buy only BTC in AUD. The next step for the company will be expanding the opportunities for its users by adding support for other cryptocurrencies and fiat currencies.
In order to use the services of Binance Lite Australia, verification procedures are required on the official website. Just after that, users get an opportunity to place their orders online. On the other hand, in order to deposit their cash, users are required to visit the nearest Newsagent store. Within several minutes crypto will be received.
Speaking about their new service, Wei Zhou, Chief Financial Officer at Binance said:
We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry. We firmly believe that more adoption will lead to more innovation and more economic opportunities.”
Obviously, thanks to the new service, the leading exchange will be focusing on reducing the gap between fiat currencies and digital assets. This will eventually contribute to further crypto adoption in the world and that’s not the first initiative made by Binance toward this goal.
Actually, over the last few months, Binance has been focusing one facilitating the interaction with crypto using cash. Earlier this year, the crypto exchange integrated credit card payments on its platform and launched a new exchange platform under the name of Binance.je which is mainly a fiat-to-crypto exchange with no deposit fees and the lowest fees for trading Euros and British Pounds with BTC and ETH.
Furthermore, the company had launched Binance Uganda exchange in order to enable trading of Ugandan Shillings for cryptocurrency.