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Binance launches cash-to-crypto service in Australia

Binance launches cash-to-crypto service in Australia

Popular cryptocurrency exchange Binance, announced today a new platform to buy crypto to support adoption of cryptocurrency use in Australia. The launch of Binance Lite Australia marks Binance’s first fiat gateway on the continent, and provides a secure and reliable cash-to-bitcoin brokerage service through a network of 1,300+ supported Newsagents across Australia.

Binance Lite Australia currently offers the option to buy bitcoin in Australia using cash (AUD), with plans to support more digital currencies and fiat purchasing options in the future. By bridging the gap between cash and cryptocurrency, Binance Lite Australia provides a user-friendly platform that further strengthens cryptocurrency adoption in Australia.

“Binance Lite Australia further expands digital currency adoption by providing easier ways to buy bitcoin. We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry. We firmly believe that more adoption will lead to more innovation and more economic opportunities.”

Wei Zhou, Binance CFO

Upon account verification, Binance Lite Australia users can place an order online and successfully deposit cash at the nearest Newsagent store, to receive crypto within minutes. Binance Lite Australia is simple and easy to use, and its state-of-the-art order processing technology guarantees maximum security.

In January of 2019, Binance integrated credit card payments on Binance.com and launched Binance.je, a fiat-to-cryptocurrency exchange with zero deposit fees and one of the lowest-priced exchanges for trading Euros and British Pounds with BTC and ETH. Fiat gateways launched by Binance also include Binance Uganda, an exchange supporting the trading of Ugandan Shillings for cryptocurrency.

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In 2018, Binance invested USD$2.5 million in TravelbyBit, an Australian Bitcoin travel startup providing global travel booking services via cryptocurrency payments and enabling merchants to accept payments in cryptocurrencies like BTC and BNB.

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