Binance looks to expand into Australia

• CEO of Binance says Binance Australia is expected to be launched by 2020.
• Reportedly, a “Lite” version of Binance is already operating in Oz but offers limited services.

Founder and CEO of Binance, Changpeng Zhao, said that the company is looking at an Australian exchange branch, according to a local crypto outlet Micky. The report stated that a “Lite” version of Binance already is already operating in Oz but only offers limited services that provide a selection of coins for sale in cash at a few retail stores.

CZ said:

We are looking at different options to turn on Binance Australia, it may not be this year so hopefully early next year sometime we will turn it on.

Though a specific launch time has not been specified, it is expected to take place in the second half of 2020. Binance is likely to focus on larger markets before launching in Australia, which is witnessing an increase in crypto penetration. The government has taken a pro-crypto stance.  

CZ met with South Australian Premier Steven Marshall earlier in August when Adelaide was endorsed as the perfect place to ‘BUIDL’ a blockchain city. A blockchain event dubbed “SouthStart” is going on this week in the southern capital. The event focuses on cryptocurrencies and their future in Australia.