The Daily: Binance Tests Fiat Exchange, Russians Mull Crypto Platforms


Binance, the leading cryptocurrency exchange, has announced it will start testing a fiat currency trading platform in Singapore and we’ve got the story in Sunday’s edition of The Daily. Also, two islands in Russia are competing to host the country’s first regulated exchange, and the ECB says Europe doesn’t need a central bank issued crypto. However, Ukraine’s national bank is advancing with its plans to issue a digital coin.

Binance, currently the largest crypto exchange by daily trading volume, will soon be testing a fiat currency exchange in Singapore. The news was spread on social media by Changpeng Zhao, the Chief Executive Officer of the Chinese‐run trading platform. “I just slipped that we will begin #Binance Singapore fiat exchange live money closed beta testing on Sept 18, in 3 days. Invitation only first. Exciting!” CZ said in a tweet this Saturday referring to his announcement during a crypto event in the Asian country. The new exchange will initially open in beta with an undisclosed number of invited users trading in a closed testing environment. The launch is scheduled for September 18. No further details have been revealed yet.

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