No more information has been disclosed yet but it is assumed that Singapore dollar will also be available.
Singapore is a city-state that has a total population of about 5 million and is considered to be the Four Asian Tigers which basically means that the country has shown tremendous growth in their economy. Singapore is also known to be the most ideal place for multi-national business because it maintains a low rate of taxes. Singapore has been classified as the second best place to do business By the World Bank. However, New Zealand is the first followed by Denmark in the third place.
Cryptocurrency is not considered to be a legal tender. As stated by Colin Ng & Partners which is a local law firm, cryptocurrency exchanges are not yet approved as legal monetary exchanges by the Monetary Authority of the country however, they can be in operation as long as they abide by the requirements of CFT and AML.
In the month of May, the Monetary Authority of Singapore ordered to shut down a company’s coin offering and warned all the other 8 cryptocurrency exchanges not to sell any type of financial derivatives without the permission of the authorities.
Bitbox and Bitcoin banknotes are the two of the examples of cryptocurrency exchange businesses in Singapore.
Binace is known to have handles around $815 million in trade in the last 1 day as stated by coinmarketcap.com.