One of the world’s leading blockchain ecosystems Binance announces its entry in the Australian market with the launch of Binance Lite, a simple and secure platform allowing users to exchange cash for digital currency, hiring Binance’s first Australian employee and committing their investee TravelbyBit to join the workspace in Lot Fourteen.
“we welcome any potential investment in South Australia as a result of this exciting global summit.”
Announcing the news from Australia’s first international blockchain summit, the ADC Global Blockchain Summit, Binance is set to become an integral player in the Australian blockchain market as South Australia continues its support of blockchain ventures locally and nationally, steadily becoming the blockchain capital of Australia.
Binance Lite is a brand new platform where users can purchase digital currency at a network of 1,400 convenience stores across Australia, with 66 outlets in South Australia. The service provides digital currency enthusiasts a simple way to purchase digital currency and make blockchain-enabled transactions.
ADC 100 vice-chair Stephen Roux noted the importance of entrants such as Binance in socialising blockchain for businesses in Australia, “Binance’s market entry into Australia here at the ADC Global Blockchain Summit 2019 in Adelaide is symbolic. It not only represents the prize nature of Australia’s consumer market as an opportunity on the global stage but also a milestone that was seeded in Premier Marshall’s early vision to create an environment that has now attracted one of the most significant blockchain technology stakeholders in the world to establish their regional operations in South Australia, which will only further foster the growth of a longer term innovation ecosystem.”
Along with Lot Fourteen, a government funded tech hub set to become Adelaide’s premier blockchain innovation space, the South Australia government also awarded a $100,000 prize to the winners of the Blockchain Innovation Challenge, Wine Security by Clare Valley Wine and Grape Association and Seraph by Wright Technologies.
The Minister for Trade, Tourism and Investment, The Hon David Ridgway shared his excitement for Binance’s entry into the South Australian market and the rise in blockchain initiatives taking place, noting “we welcome any potential investment in South Australia as a result of this exciting global summit.”
Binance continuously works to build the global blockchain ecosystem, recently investing $2.5 million into Australian startup TravelbyBit. Binance CFO Wei Zhou said, “It’s a strategic and innovative move for the South Australia government to commit to supporting blockchain technology and startups working in the digital currency space. Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause. We want to see Australia become a Blockchain Continent.”