Binance, the world’s leading crypto exchange by trading volume, has launched Binance Australia, a fiat-to-crypto trading platform for Aussies. The platform provides Australian users with a fast, secure, and reliable marketplace to buy and trade digital currencies with the Australian Dollar (AUD).
According to the announcement, Binance Australia allows Australian users to deposit AUD directly from their bank accounts into their Binance account at zero fees through PayID. The users can as well make withdrawals by simply linking their local bank accounts to Binance Australia and make withdrawal request.
The new Binance subsidiary is currently available on desktop and mobile web, with App support to follow at a later date. Binance Australia connects to the broader Binance ecosystem while catering to the Australian market. Users on the new platform are still able to access all features and functions on Binance.com, including the high speed, security, and deep liquidity.
Binance already operates Binance Lite Australia which was launched last year. The platform offers limited crypto brokerage services through a network of Australian newsagents and internet banking services. However, the new venture seems like a fully fledged exchange which provides local traders with access to all the features on the parent exchange.
Binance Australia is part of Binance’s efforts to increase convenience and access to users around the world looking to buy and trade digital currencies. The company has established joint ventures with global partners to create fiat-to-crypto trading platforms in various countries including Singapore, Korea, Jersey, the U.S., and Uganda. All these Binance subsidiaries allow users to easily and securely trade digital currencies with selected local currencies.
Binance founder and CEO, Changpeng Zhao, stated that Australia has been at the forefront of blockchain innovation with favourable policies. He added that, by providing a secure and regulated platform for trading digital currencies with AUD, Binance Australia aims to make crypto more accessible among Australian users.