Binance Announces New Australia Platform Binance Lite

The team at Binance furthered their service to the land down under, with the launch of Binance Lite Australia.

This new service will allow Australian investors to use fiat currencies to purchase cryptocurrency. According to a post on their blog released this morning, Binance Lite Australia will be available in more than 13,00 newsagents across Australia, providing a “secure and reliable cash-to-bitcoin brokerage service”.

Binance and Australia

Currently, the service will only offer users the opportunity to buy bitcoin but is pegged to offer a much wide variety of cryptocurrencies over time.

Binance hopes that the launch of Binance Lite Australia will further help Australians get more involved in cryptocurrencies by providing an easier and safer way of doing so.

The way it works is that users will make an order online, then travel to the newsagent to deposit cash. They will then credit the currency within just a couple of minutes.

Although this is their first fiat-crypto venture in Australia, they have an existing presence in the 6th largest country in the world.

In 2018, they invested a $2.5 million USD in the Bitcoin travel company, TravelbyBit, which allow you to make travels plans with cryptocurrency transactions via BTC and Binance’s own, BNB.

Speaking about the launch, Binance’s CFO, Wei Zhou stated, “Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause,”

Binance’s Cash to Crypto Mission

Implementing cash to crypto services is a longstanding ambition of Binance, who are very much focused on helping countries with the process of cryptocurrency adoption.

Earlier this year, they launch Binance.je, an exchange platform that allows you to use credit cards to make GDP and Euros to buy cryptocurrencies. As well as branching out further to Uganda in Africa. Here they launched Binance Uganda, where users can make use of Ugandan Shillings for cryptocurrency investment.

“We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry,” explained Zhou. “We firmly believe that more adoption will lead to more innovation and more economic opportunities.”