Cryptocurrency exchange Binance announced earlier this week its entry in the Australian market with the launch of Binance Lite, a secure platform allowing users to exchange cash for digital currency, as well as the hiring of its first Australian employee and committing its investee TravelbyBit to join the workspace in Lot Fourteen.
According to Binance, Binance Lite is a brand new platform where users can purchase digital currency at a network of 1,400 convenience stores across Australia, with 66 outlets in South Australia. The service provides digital currency enthusiasts a simple way to purchase digital currency and make blockchain-enabled transactions.
Binance also claims it is set to become an integral player in the Australian blockchain market as South Australia continues its support of blockchain ventures locally and nationally, steadily becoming the blockchain capital of Australia. Speaking about the launch, Binance CFO Wei Zhou, stated:
“It’s a strategic and innovative move for the South Australia government to commit to supporting blockchain technology and startups working in the digital currency space. Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause. We want to see Australia become a Blockchain Continent.”
The Minister for Trade, Tourism and Investment, The Hon David Ridgway shared his excitement for Binance’s entry into the South Australian market and the rise in blockchain initiatives taking place. He went on to add:
“We welcome any potential investment in South Australia as a result of this exciting global summit.”