Binance’s new Singapore subsidiary has added support for Litecoin, with LTC/SGD being the only pair on the fiat-to-crypto exchange.
Singapore residents are now able to buy or sell Litecoin with Singapore dollars on the new crypto exchange of Binance.
The exchange was first revealed in April, but it officially went live on July 10. Since its launch, the number of platform users has seen a growth of 20 percent on a weekly basis. A volume increase was also registered.
This is Binance’s third fiat-to-crypto exchange, following the release of platforms in Jersey and Uganda.
Binance CFO Wei Zhou said at the time of the launch: “From a fiat on-ramp perspective, it will be a very exciting launch in terms of allowing people in Singapore to access cryptocurrency from their traditional banking channels.”
Until recently, the exchange has avoided interacting with fiat money due to regulatory constraints. But now the exchange has started to slowly branch out into this sector, as it has announced plans of creating a fiat-to-crypto in…