The First Fiat-to-Cryptocurrency Exchange Will Introduce in Singapore
Southeast Asia will allegedly observe its fiat-to-cryptocurrency exchange to introduce in Singapore. The location is expected to make virtual currencies more accessible to both the organizations and customers.
Fewer Barricades to Entry
The first fiat-to-cryptocurrency exchange will introduce in Singapore, make an attempt to encourage easy entry to the virtual currency market for both the customers and organizations. EurekaPro, as the trade is named, has just propelled an open public beta that purportedly has more than 8000 joined up in the first week.
The trade will enable the individuals to buy cryptocurrencies with varied Asian fiat currencies like Singapore dollar, Indonesian rupiah, Malaysian Ringgit, and others alike.
CEO of EurekaPro, Notes Junus Eu, “Our platform presents a one kind proposition for the blockchain space in Southeast Asia, by reducing or eliminating entry barriers to the crypto market space that might protect the customers from adopting the blockchain technology.”
Southeast Asia – An Inviting Destination
It’s becoming the rapidly growing markets with quickly developing the working class. Since the various nations in the area have their own strategies towards virtual currencies, Thailand and Singapore are shaping up as an inviting destination for the nascent field.
In August the Bitcoinist reported Singapore Monetary Authority partnered with NASDAQ, Anquan, and Deloitte for developing solutions for instantaneous trade, and also the late settlement of cryptocurrencies and security assets.
On the other side, Thailand has made solid moves towards cryptocurrencies classification and regulating the space. Moreover, the country announced detailed regulations for ICOs, expecting them to abide by strict pre-determined rules and have a base capital of 5 million baht, approx. $157000. From that point, not less than 50 organizations have allegedly revealed their interest in acquiring ICO licensed in the country.