Binance’s CEO Changpeng Zhao has revealed that a fiat-to-crypto exchange in Singapore will launch in April.
Changpeng Zhao (CZ), CEO of second-largest crypto exchange Binance, has announced that its branch in Singapore will open in April. A Cointelegraph correspondent reported on the development on April 4 from the Deconomy conference in Seoul.
CZ took part in Deconomy, which is being held in South Korea from April 4-5, at the panel dubbed “Centralized vs Decentralized.” During the panel, he revealed that Binance’s fiat-to-crypto exchange service in Singapore will be opened later this month, but has not provided any other details regarding the launch.
Another major announcement made at Deconomy is related to the launch of Binance DEX — a decentralized crypto exchange powered by Binance’s blockchain. According to CZ, the exchange’s mainnet will go live later in April, and the platform will reportedly support secure decentralized software and hardware wallets, including Binance’s own Trust Wallet.
As Cointelegraph previously wrote, Binance confirmed in January that its new offices will be located in Singapore and Malta. Prior to that, the company had opened a branch in Uganda.
Moreover, CZ had previously hinted about the creation of a crypto-fiat exchange in Argentina; however, this location has not yet been officially confirmed.
On April 3, Binance also revealed that its Trust Wallet is preparing a new staking feature, which is scheduled to launch in Q2 2019. Moreover, the exchange has added support for Tezos (XTZ) — currently the 19th largest currency by market cap, according to CoinMarketCap.