Nevermind the Stagnating Market, Binance Is Pushing Further in Its Expansion

Sept. 15 came with the announcement from the Binance co-founder and CEO Changpeng Zhao: One of the largest global crypto exchanges will start testing a crypto-fiat exchange in Singapore.

Conquest into EuropePreviously in September, Binance had signed a Memorandum of Understanding with the Malta Stock Exchange's fintech and digital asset subsidiary, MSX PLC. The main goal of the collaboration is the forthcoming trading platform.

It's worth noting that on July 19, Neufund - an equity fundraising platform on the blockchain - revealed it's partnering with both MSX and Binance "To create a regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets." The company's press release stated that Neufund will become the first end-to-end primary issuance platform for security tokens and equity tokens, in particular.

On Aug. 12, Binance LCX - a joint venture between Binance and Liechtenstein Cryptoassets Exchange - announced the launch of a fiat-to-crypto exchange.

The Binance team promised to provide and maintain the technology platform, while Binance LCX would take on customer support, legal requirements, due diligence, Know Your Customer and Anti-Money Laundering compliance and communication with the government.

Further details were provided by the Binance Labs in August.

The program will take on around eight-10 companies per batch for a 10-week period, and Binance Labs will hand out $500,000 to each program participant in exchange for a 10 percent stake in the business.

Beyond money, Binance Labs is going to provide its projects mentoring, technical advice, access to the Binance network and support on non-technical, organization-building activities.

Apart from boosting the service's business development, Binance plans to list Trust Wallet as a default wallet on the highly-anticipated Binance decentralized exchange.

We may even consider the market crisis a catalyst for the Binance activity.