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Binance Singapore launches, offering bare-bones features

Binance has launched its Singapore exhange, but reports are that it is underwhelming compared to the original exchange.

Cryptocurrency exchange Binance has launched its platform for customers in Singapore but is only offering a limited version of the exchange.

According to a report by TechCrunch, Binance Singapore is only allowing customers to purchase Bitcoin at a fixed price, rather than the more meaty features that Binance offers.

Binance Singapore’s website provides a three-step process which implies that the services are in partnership with Xfers, a local service focused on payments providing.

Binance responded to TechCrunch’s reporting saying that this Bitcoin to Singapore dollar pairing is part of the initial soft launch and further token pairings might be listed:

“Binance is excited to bring world-class blockchain technology to Singapore and we look forward to showcasing Binance’s tier one safety and security measures to the world. BTC/SGD is the initial pair Binance Singapore is offering with the soft launch and there may be more pairs added as regulations allow.

Binance Singapore has full deposit/withdrawal functionality. For any functionality issues that may be user-specific, we encourage them to contact customer service for support.”

In September last year, Changpeng ‘CZ’ Zhao announced that the beta testing would begin that month.

It seems as though the regulations in Singapore might be halting the same kind of features for Binance to provide compares to that of the Chinese counterpart.