Bitcoin Can Now Be Purchased Using Fiat Currency in Australia

Reputed Digital money exchange, Binance, launched a platform in Australia. This facilitates the purchasing of bitcoin with fiat money from stores. Bitcoin can now be purchased using fiat currency in Australia, thanks to Binance.

Binance said the new platform, called Binance Lite Australia, is basically a cash to-bitcoin brokerage option which can be utilized through a system of 1,300 or more bolstered newsagents over the nation.

The company said that as it develops, its intention is to allow access to various cryptographic forms of money. Also, allow fiat alternatives. Conversely, as of now, the only option is to purchase bitcoin utilizing Australian dollars (AUD).

As per the announcement, after clients complete an account verification process, they can submit a request to purchase bitcoin on the web, pay in fiat at their closest newsagent, and get their bitcoin in a very short period of time.

Binance Lite Australia charged an associated expense. a 5 percent transaction fee for bitcoin purchased through via this platform.

Binance CFO Wei Zhou said that the new service further extends the utility of digital money “by providing easier ways to buy bitcoin”. He included that the company will in future offer more fiat-to-cryptographic money possibilities around the globe.

Binance has been rapidly developing in all its operations internationally. In January, it released a fiat-to-crypto trade on the island of Jersey. Jersey is a British self-governing dependency, enabling clients to exchange bitcoin and ethereum against the British pound and the euro. Last June, the trade additionally released a fiat-to-crypto trade in Uganda.

However, Binance and its official wallet, Trust Wallet, recently partnered with Israel-based payment processor, Simplex. This is to facilitate the purchase of cryptographic forms of money with credit cards.

In a similar collaboration, in November France-based crypto startup Keplerk joined forces with local tobacco retailers to sell bitcoin.

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