A former member of the Monetary Policy Committee at the People’s Bank of China believes the ban on China should be reconsidered.
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.
— CZ Binance (@cz_binance) September 15, 2018
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.