Binance to open Singapore fiat-to-crypto exchange in April

nur rochid

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Quote from: 1Referee on June 05, 2019, 04:47:01 AM

Quote from: prtty2gal2 on June 04, 2019, 02:47:19 AM

Look at where they moved their head office to too, which is Malta, Malta is also a very small country and I learnt that they are also crypto friendly, if these countries sees nothing wrong in crypto, why is America and other large countries feeling threatened about it, and I guess it is just because they want to keep staying in control.

The smaller the country it is, the less it has to lose, because in most cases small countries only have friendly regulations to offer as form of competition. By offering friendly regulations you're more likely to attract businesses looking to escape from the tyranny of countries such as US, China and Russia.

The US has its monetary policies it wants to protect at all cost, and I can't blame them for doing so. It must be frightening knowing that with Bitcoin there is a completely new type of financial system that potentially could render them obsolete.

At the end of the day, it has to be profitable for an exchange to settle in a certain country. Taxation wise and user wise Singapore seems to be a fairly crypto friendly country to settle in.

right, we focus on Singapore, which is a good sanctuary for the world economy. and what is clear is that with an open government with cryptocurrency, it is not surprising that binance is targeting the country, besides that Singapore does have good human resources

1Referee

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Quote from: prtty2gal2 on June 04, 2019, 02:47:19 AM

Look at where they moved their head office to too, which is Malta, Malta is also a very small country and I learnt that they are also crypto friendly, if these countries sees nothing wrong in crypto, why is America and other large countries feeling threatened about it, and I guess it is just because they want to keep staying in control.

The smaller the country it is, the less it has to lose, because in most cases small countries only have friendly regulations to offer as form of competition. By offering friendly regulations you're more likely to attract businesses looking to escape from the tyranny of countries such as US, China and Russia.

The US has its monetary policies it wants to protect at all cost, and I can't blame them for doing so. It must be frightening knowing that with Bitcoin there is a completely new type of financial system that potentially could render them obsolete.

At the end of the day, it has to be profitable for an exchange to settle in a certain country. Taxation wise and user wise Singapore seems to be a fairly crypto friendly country to settle in.

el kaka22

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I do not know what makes Singapore so special and I have never studied the laws of Singapore in relation to wealthy people. However, I remember that the dude that helped build facebook and basically was the first investor and friend of mark zuckerberg lives there as well.

Eduardo Savarin sued facebook and mark and got his shares and he is wealthy as well and lives in Singapore. Newer kids on the block that makes ton of money somehow all goes to Singapore, it is obvious that they have something that attracts rich people to their country. This could be also the same reason why binance decided to open their first fiat shop in that country as well. We need to check what their laws are like for these things and if possible replicate in our own countries.

jrrsparkles

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Quote from: Baofeng on June 02, 2019, 03:00:22 PM

Quote from: jrrsparkles on May 31, 2019, 03:00:02 AM

I think they are opening it in Sinapore is just because it is one of the crypto friendly country and they will expannd it sooner to some other countries.

Yes, they know that Singapore is very open to crypto so it's a good first step for Binance to let their presence felt in that region. They are really expanding this year and they know that Singapore is a good market for them. And it's one of the faster emerging countries so they know that there are a lot of people in Singapore who has a deep pocket that would love to involved themselves in crypto sphere, win-win situation, for Binance and for Singaporean crypto enthusiast.

This will give huge trust to their exchange,so they are getting their next step on their exchange revolution but soon they will expand to the countries whee they are allowing their services so they can get most profits from crypto market users.

prtty2gal2

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Quote from: andieoke on June 01, 2019, 09:55:38 AM

This is good to do, because it can increase cryptocurrency growth in the world in general. Singapore is indeed a small country, but the country is very rich. And many people become Cryptocurrency traders. of course this will make it easier for them to treat trade. And maybe this will attract new traders, who were initially hesitant to trade Cryptocurrency in the region.

Based on my observation, it seems to me like smaller developed countries are the ones really keying in to this cryptocurrency of a thing, because for binance to have gone to Singapore to have their physical presence there, then the government of Singapore would have allowed that being a crypto friendly zone.

Look at where they moved their head office to too, which is Malta, Malta is also a very small country and I learnt that they are also crypto friendly, if these countries sees nothing wrong in crypto, why is America and other large countries feeling threatened about it, and I guess it is just because they want to keep staying in control.

mirawantirinjana

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If indeed binance has the plan, then I think it is a very good decision, because Singapore is one of the countries with a strong and stable economy.
and that will be a positive news for Binance's development in the future.

marcbitcoins

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Singapore has a very strong economy links in favor of all businesses like Binance exchange in which it just rebuilding their reputation from stealing incident so i think both will benefits from this development as the Singaporean will need more good exchanges for their growing population of crypto users too.

Kevin77

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Is there a limit for one nation? Like I know what binance started out in Singapore is not like binance we know but it allows for binance to make sure fiat to crypto is possible and that is great news because its a big name and can be used everywhere.

Now, USA may not need something similar since they already have coinbase but looking at all other countries in the world even though there are some local fiat to crypto websites, none of them have a big name like binance. This is why I think binance should be looking into starting places all around the world, Singapore could be the first example, they can then look for a second nation with a lot of interest and not a big name on their market, maybe even Ukraine since they are very crypto loving but don't have a famous global exchange, then they can do it nation by nation for a while until they have tens of countries in their list.

dddudidd

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if binance aims to support the Singapore dollar, I am sure it is a pride for Singaporeans. of course the circulation of Singapore dollars is getting better in the eyes of the world. for traders immediately to shop for Singapore dollars. because you know yourself the circulation of money in binance is very fast.

arpon11

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Quote from: Unblock_news on April 17, 2019, 01:41:15 AM

First announced in September 2018, Binance Singapore will be a fiat-to-crypto exchange that would support the Singaporean dollar.

Full article here: https://www.unblock.news/market/binance-to-open-singapore-fiat-to-crypto-exchange-in-april

It look like binance is now leading cryptocurrencies exchange in creating acceptability and adopting! Maybe that is why binance is becoming more popular by the day and many big industries and investors are now trading through binance platform.
the opening of this crypto to fiat currency exchange in Singapore is really great breakthrough to me and if one country that has independent mind started to used cryptocurrencies or bitcoin with their country's currency then we should know that adoptions by others countries will be easy.

Barbut

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Quote from: fauzan Ichsan on June 02, 2019, 11:33:03 PM

Quote from: hahahafr on June 02, 2019, 04:55:16 AM

Binance is one of the few exchanges that i know in the cryptospace that are helping in the adoption of cryptocurrencies. This is a great development from Binance and the more reason why is going to be one of the popular cryptocurrency exchanges in the world.

right, provide facilities in Singapore, so that consumers in that country are easier to access cryptocurrency. we know that Singapore is an economic country, and there are a lot of bitcoiners, so it's good if binance does that step

Binance is doing big job this year, they are everywhere, they are very active in promoting themselves, crypto generally, their token, and they have time to be very active in the community itself, helping people, adding new stuff. They are already doing so much, and looking on their plans for this year only (to not mention future) they plan to be number 1 and if they continue to work like this they will be number 1 and they will stay on that place for a long time.

fauzan Ichsan

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Quote from: hahahafr on June 02, 2019, 04:55:16 AM

Binance is one of the few exchanges that i know in the cryptospace that are helping in the adoption of cryptocurrencies. This is a great development from Binance and the more reason why is going to be one of the popular cryptocurrency exchanges in the world.

right, provide facilities in Singapore, so that consumers in that country are easier to access cryptocurrency. we know that Singapore is an economic country, and there are a lot of bitcoiners, so it's good if binance does that step

Baofeng

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Quote from: jrrsparkles on May 31, 2019, 03:00:02 AM

Quote from: joniboini on May 31, 2019, 02:51:48 AM

Quote from: jrrsparkles on May 31, 2019, 02:20:24 AM

Don't know how much people were trading crypto curencies in Singapore because the population level is very low in that country.But of they cn amange to spread to many countries then it will be a great alternative to many local exchanges.

Very low? Are you sure? Where does your data come from?

Even if that's true, there are a lot of crypto projects and exchange based on Singapore already. At least they should have a decent market. I doubt Binance would open a marketplace there if there's no solid user base.

Just said on common view and as of now the population of SIngapore is under 6 million which is enough to be considered as solid user base for a new market?

We can also said that about the bitcoin wallets as well, how many addresses we have as compare to the total number of actual users?

Quote from: jrrsparkles on May 31, 2019, 03:00:02 AM

I think they are opening it in Sinapore is just because it is one of the crypto friendly country and they will expannd it sooner to some other countries.

Yes, they know that Singapore is very open to crypto so it's a good first step for Binance to let their presence felt in that region. They are really expanding this year and they know that Singapore is a good market for them. And it's one of the faster emerging countries so they know that there are a lot of people in Singapore who has a deep pocket that would love to involved themselves in crypto sphere, win-win situation, for Binance and for Singaporean crypto enthusiast.

hahahafr

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Binance is one of the few exchanges that i know in the cryptospace that are helping in the adoption of cryptocurrencies. This is a great development from Binance and the more reason why is going to be one of the popular cryptocurrency exchanges in the world.

andieoke

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This is good to do, because it can increase cryptocurrency growth in the world in general. Singapore is indeed a small country, but the country is very rich. And many people become Cryptocurrency traders. of course this will make it easier for them to treat trade. And maybe this will attract new traders, who were initially hesitant to trade Cryptocurrency in the region.

guoyu78

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Quote from: Freny250 on May 30, 2019, 10:27:13 PM

Binance always have foresight thats why they are the best by far. They know how to get things done . Targeting the Asian market is a good one for crypto. The Asians are highly populated so getting them to know, use and adopt crypto will be of great benefit for the crypto space

This is what I have always loved about binance, they really have the right strategy which has always made them to stay ahead of their competitor and with this full speed, it will be very difficult for an exchange to be greater than them, indirectly, we already have a monopolized exchange strategically.

I am sure they will be able to sustain that position, just like companies like Amazon, eBay and the top ones has been able to hold on tight to their leading position in the ecommerce industry, Binance will be the LION of exchanges for a very long time which will make their coins very high profit yielding investment in future.

jrrsparkles

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Quote from: joniboini on May 31, 2019, 02:51:48 AM

Quote from: jrrsparkles on May 31, 2019, 02:20:24 AM

Don't know how much people were trading crypto curencies in Singapore because the population level is very low in that country.But of they cn amange to spread to many countries then it will be a great alternative to many local exchanges.

Very low? Are you sure? Where does your data come from?

Even if that's true, there are a lot of crypto projects and exchange based on Singapore already. At least they should have a decent market. I doubt Binance would open a marketplace there if there's no solid user base.

Just said on common view and as of now the population of SIngapore is under 6 million which is enough to be considered as solid user base for a new market?

I think they are opening it in Sinapore is just because it is one of the crypto friendly country and they will expannd it sooner to some other countries.

joniboini

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Quote from: jrrsparkles on May 31, 2019, 02:20:24 AM

Don't know how much people were trading crypto curencies in Singapore because the population level is very low in that country.But of they cn amange to spread to many countries then it will be a great alternative to many local exchanges.

Very low? Are you sure? Where does your data come from?

Even if that's true, there are a lot of crypto projects and exchange based on Singapore already. At least they should have a decent market. I doubt Binance would open a marketplace there if there's no solid user base.

jrrsparkles

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Quote from: Kemarit on May 30, 2019, 10:40:30 PM

Ok, people are talking about the hype, but it's now official:

(https://www.binance.sg/en)

It's too early what it could bring to us, but I'm very positive that with the all mighty Binance will corner majority of crypto traders in Singapore. They even have a meet up here locally in my country which I'm not aware of. So they're into the Asia Pacific region (APAC), they have one in Australia already and now Singapore.

Don't know how much people were trading crypto curencies in Singapore because the population level is very low in that country.But of they cn amange to spread to many countries then it will be a great alternative to many local exchanges.

CryptoBry

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Quote from: Freny250 on May 30, 2019, 10:27:13 PM

Binance always have foresight thats why they are the best by far. They know how to get things done . Targeting the Asian market is a good one for crypto. The Asians are highly populated so getting them to know, use and adopt crypto will be of great benefit for the crypto space

I am considering Binance to be one of the most appreciated and best-managed cryptocurrency exchanges around even if it experienced its biggest test (hacking) recently. Binance know where the market is and they know how to make strategic locations in building up its business. Right here in Asia, the market is getting to be huge and Binance is making sure that they are there for the big bloom of this industry which can happen sooner than we expected. No wonder BNB keeps on flying high as reflective of the potential of Binance both as a business and as a platform.

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