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Binance exchange officially launches Binance Australia

By:
on Jul 29, 2020
Updated: Jun 1, 2022
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  • Binance Australia will offer its users the same features and functions available on Binance.com.
  • The platform is currently available on desktop and mobile web with app support coming soon.
  • Through Binance Australia, users will be able to deposit AUD from their bank accounts via PayID.

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After launching Binance Lite Australia in March last year, Binance exchange has finally branched out to Australia. The exchange unveiled this news via a blog post on July 28, noting that it had launched a fiat-to-crypto platform that would offer Australians to buy or sell crypto against the Australian Dollar (AUD) in a fast, reliable, and secure manner. Per the publication, Binance Australia is currently available on desktop and mobile web. The exchange, however, noted that it aims to introduce app support at a later date.

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According to the blog post, Binance Australia will let Australian crypto enthusiasts deposit AUD directly from their bank accounts at zero fees through PayID. TO withdraw funds from the platform, the users only need to link their local bank accounts and place a withdrawal request.

Commenting on reaching this milestone, Binance CEO, Changpeng Zhao said,

“Australia has been at the forefront of blockchain innovation with favorable policies. By providing a secure and regulated platform for trading digital currencies with AUD, Binance Australia aims to make crypto more accessible among Australian users, furthering our mission to provide crypto access and drive freedom of money worldwide.”

Forging strategic partnerships

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Per the blog post, Binance Australia aims to bring the Binance ecosystem together by serving the Australian market. As such, it offers all the features available on Binance.com to the Australians, not to mention high speed, security, and vast liquidity.

Binance Australia also contributes to Binance’s expansion efforts which seek to increase convenience and access to users aiming to buy and sell crypto across the globe. Apart from Binance Australia, Binance has established partnerships with leading global partners to create fiat-to-crypto trading platforms in Singapore, Korea, Uganda, Jersey, and the United States. The publication went on to disclose that Binance UK was next in line.

Australia’s growing crypto industry

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This news marks the most recent development in the Australian crypto and blockchain industry. Prior to this, the country’s bullish attitude toward crypto saw its postal agency, Australia Post join hands with Bitcoin.com.au to let its citizens pay for BTC at more than 3,500 post offices across the country. Reportedly, the two parties achieved this feat through Australia Post’s Post Billpay service, which allowed Australians to pay for BTC as they would any other bills.

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