BINANCE SINGAPORE LAUNCHES BUT OFFERS JUST ONE TRADING PAIR, REPORT

Last updated: June 20, 2025, 11:11 | Written by: Anthony Pompliano

The highly anticipated launch of Binance Singapore arrived with a whisper rather than a bang.After months of eager waiting, the platform went live, but with a somewhat limited scope, initially offering only a single trading pair. Binance is the world's leading cryptocurrency exchange, catering to over 270 million registered users in over 180 countries. With low fees and over 400 cryptocurrencies to trade, Binance is the preferred exchange to trade Bitcoin, Altcoins, and other virtual assets. With Binance users can:This news, first reported by TechCrunch, highlighted a significant difference compared to the sprawling functionalities of Binance's main exchange.The initial offering restricted users to purchasing Bitcoin (BTC) using Singapore Dollars (SGD), a constraint that naturally dampened the enthusiasm of traders seeking a broader range of cryptocurrency options. Binance has launched a new cryptocurrency exchange in Singapore after months of anticipation, TechCrunch reported on April 23, albeit with limited features. Users of the platform are only able to purchase bitcoin (BTC) using Singapore dollars (SGD,) meaning far fewer trading pairs are available for consumers compared with the company s main exchange.While this soft launch presented a streamlined entry point for newcomers to the crypto sphere in Singapore, it also raised questions about Binance's strategic approach to the Singaporean market.The limited trading pair sparked discussions about the platform's long-term goals and the potential for future expansion, leaving users keen to see how Binance planned to broaden its offerings and cater to a more diverse range of trading preferences. Skip to main content Bitcoin Insider. MenuThe launch also coincided with Binance exploring decentralized trading platforms, showcasing their commitment to innovation in the blockchain space.

The Initial Launch and Limited Functionality

Binance's entry into the Singaporean market was marked by a strategic decision to prioritize simplicity and regulatory compliance. Binance Singapore has been first launched in April, but with limited functionalities and only one trading pair. Now, Binance Singapore will now allow users to buy and sell cryptocurrency for Singapore dollars. Currently, local users can buy Bitcoin, Ethereum, and Binance Coin on the platform, with more crypto coming in the future.The initial launch focused primarily on facilitating the purchase of Bitcoin (BTC) with Singapore Dollars (SGD). As of April 15, Binance has 151 cryptocurrencies available for trading on Binance, with 460 total trading pairs, after the addition of one new token and 20 new trading pairs. After Bitcoin SV's delisting on April 22, assuming no additional listings, delistings, or additional pairs, the number of cryptocurrencies and trading pairs will changeThis approach, while restrictive in terms of trading options, allowed Binance to establish a foothold in the market while navigating the complexities of local regulations.

As Binance CFO Wei Zhou stated to Cointelegraph, the launch was a deliberate step to provide a regulated and accessible platform for Singaporean users. Binance Singapore Launches But Offers Just One Trading Pair, Report Source: Binance Singapore Launches But Offers Just One Trading Pair, Report Source:The decision to offer only one trading pair in the beginning allowed the exchange to focus on ensuring a secure and reliable trading environment before gradually expanding its offerings.

Why Only One Trading Pair Initially?

The decision to launch with just one trading pair wasn't arbitrary. Stay updated on the latest news from the Binance Exchange, keeping track of new crypto listings, new trading pairs, recent delistings, new fiat listings, crypto airdrops and other latest Binance news.Several factors likely contributed to this approach:

Regulatory Compliance: Singapore has a relatively stringent regulatory environment for cryptocurrency exchanges.Launching with a single, well-established cryptocurrency like Bitcoin allowed Binance to demonstrate compliance and build trust with regulators.
Risk Management: Limiting the initial offerings reduces the risk of market manipulation and other illicit activities. 仮想通貨取引所大手バイナンスは、シンガポールで仮想通貨取引所を新設した。テッククランチが4月23日に報じた。. しかし機能は限定的で、ビットコイン（btc）とシンガポールドル（sgd）のペアの取り扱いのみ。Focusing on a single trading pair simplifies monitoring and enhances security measures.
User Experience: For new users, a platform with too many options can be overwhelming.Starting with a single, straightforward option makes it easier for newcomers to enter the cryptocurrency market.
Phased Rollout: Binance likely planned a phased rollout, starting with a limited offering and gradually expanding as they gained experience and confidence in the Singaporean market.

Expanding the Trading Options: What's Available Now?

While the initial launch featured only the BTC/SGD trading pair, Binance Singapore has since expanded its offerings. Binance has launched a new cryptocurrency exchange in Singapore after months of anticipation, albeit with limited features, Binance CFO Wei Zhou told Cointelegraph on April 24.Currently, local users can buy and sell:

Bitcoin (BTC)
Ethereum (ETH)
Binance Coin (BNB)

This expansion demonstrates Binance's commitment to growing its presence in Singapore and catering to the increasing demand for diverse cryptocurrency trading options.

How to Get Started with Binance Singapore

For new users looking to start trading on Binance Singapore, the process is relatively straightforward:

Create a Binance Singapore Account: The first step is to create an account on the Binance Singapore platform. Binance has launched a new cryptocurrency exchange in Singapore after months of anticipation, TechCrunch reported on April 23, albeit with limited features.[BREAK] Users of the platform are only able to purchase bitcoin using Singapore dollars meaning far fewer trading pairs are available for consumers compared with the company's main exchange.[BREAK] The Binance Singapore website suggestsThis involves providing basic personal information and completing the necessary verification steps.
Link an Xfers Account: Binance Singapore partners with Xfers, a local payment service, to facilitate deposits and withdrawals.New users need to link their Xfers account to their Binance Singapore account.
Start Buying and Selling Bitcoin: Once the account is set up and linked, users can start buying and selling Bitcoin (and other available cryptocurrencies) using Singapore Dollars (SGD).

Binance's Global Expansion Strategy

The launch of Binance Singapore is part of Binance's broader strategy to expand its global presence and offer localized services to different markets. Come riportato da TechCrunch il 23 aprile, dopo mesi di attesa, Binance ha lanciato un nuovo exchange di criptovalute a Singapore, anche se con funzionalit limitate. Gli utenti della piattaforma sono in grado di acquistare bitcoin (BTC) solo utilizzando la valuta locale, il dollaro di Singapore (SGD), il che significa che per i consumatori sono disponibili un numero molto inferiore diOther Binance-branded fiat-to-crypto platforms include:

Binance.US: Serving the United States market.
Binance Jersey: Catering to the European market.
Binance Uganda: Focused on the African market.
Binance Lite Australia: Offering a simplified platform for Australian users.

This decentralized approach allows Binance to adapt to the specific regulatory requirements and market conditions of each country, providing users with access to cryptocurrency trading in a compliant and convenient manner.

The Role of Xfers in Binance Singapore

Binance Singapore's partnership with Xfers is crucial for facilitating fiat-to-crypto transactions. Users of Binance s new Singapore platform are reportedly only able to purchase bitcoin using Singapore dollars during the soft launch.Xfers is a local payment service approved by Singaporean regulators, allowing users to seamlessly deposit and withdraw Singapore Dollars (SGD) from their Binance accounts.This integration streamlines the trading process and enhances the overall user experience.

By leveraging Xfers' established payment infrastructure, Binance Singapore can offer a secure and reliable platform for users to buy and sell cryptocurrencies using local currency.

Understanding Trading Pairs and Market Data

Trading pairs are the foundation of cryptocurrency trading. The launch of spot BTC ETFs in the U.S. in January marked a pivotal moment, boosting market sentiment and attracting new capital. Favorable macro conditions, including the U.S. Federal Reserve's interest rate cut in September and positive regulatory expectations post-U.S. Presidential election, further propelled the market.They represent the two assets that are being exchanged in a particular market.In the case of Binance Singapore's initial launch, the only trading pair available was BTC/SGD, which means that users could only exchange Bitcoin for Singapore Dollars and vice versa.

Market data is essential for traders to make informed decisions.Binance Futures, for example, offers various ways to observe market data, allowing traders to select trading pairs that align with their strategies. Users of Binance s new Singapore platform are reportedly only able to purchase bitcoin using Singapore dollars during the soft launch. Binance has launched a new cryptocurrency exchange in Singapore after months of anticipation, TechCrunch reported on April 23, albeit with limited features. Users of the platform are only able to purchase bitcoin (BTC) using Singapore dollars (SGDThis data includes:

Price charts: Visual representations of historical price movements.
Order books: Lists of buy and sell orders at different price levels.
Trading volume: The amount of cryptocurrency traded over a specific period.
Market depth: The liquidity available at different price levels.

What Does This Mean for the Singaporean Crypto Market?

Binance's entry into the Singaporean market, even with a limited initial offering, has had a significant impact.It provides a well-known and reputable platform for Singaporeans to access the cryptocurrency market. See full list on marketswiki.comWhile the initial limited functionality might have been a concern for some, the subsequent expansion of trading pairs and the integration of Xfers have made Binance Singapore a more attractive option for local traders.

The Impact of Spot Bitcoin ETFs

The launch of spot Bitcoin ETFs in the U.S. has had a ripple effect on the global crypto market, including Singapore. Neukunden ben tigen laut Binance nur drei Schritte. Nach der Einrichtung eines Kontos bei Binance Singapur muss zun chst noch ein Xfers-Konto verkn pft werden. Danach kann man mit dem Kauf und Verkauf von Bitcoin beginnen. Zur Funktionsweise der neuen Plattform sagte Binance-CFO:These ETFs have boosted market sentiment and attracted new capital, driving increased interest in cryptocurrencies.This positive momentum has likely contributed to the growth of Binance Singapore and the demand for more diverse trading options.

Binance's Decentralized Initiatives Alongside the Singapore Launch

It's important to note that concurrently with the Binance Singapore launch, Binance has been actively developing its decentralized ecosystem. { payload :{ allShortcutsEnabled :false, fileTree :{ :{ items :[{ name : 0x-dex-protocol-suspended-because-of-vulnerability-funds-safe-b5e .md, path : 0x-dexThis includes:

Binance Chain: The native blockchain that powers Binance's decentralized trading platform.
Binance DEX: A decentralized exchange that allows users to trade cryptocurrencies directly from their wallets.

These initiatives demonstrate Binance's commitment to innovation and its belief in the future of decentralized finance (DeFi). Binance is the world's leading cryptocurrency exchange, catering to 235 million registered users in over 180 countries. With low fees and over 350 cryptocurrencies to trade, Binance is the preferred exchange to trade Bitcoin, Altcoins, and other virtual assets. With Binance users can:While Binance Singapore provides a regulated and centralized platform, Binance's decentralized projects offer users greater control and autonomy over their assets.

Copy Trading on Binance: A Feature to Consider

While not directly related to the initial limited launch of Binance Singapore, copy trading is a feature offered by Binance that's worth considering. Binance Singapore Launches But Offers Just One Trading Pair, Report. Cointelegraph. Binance Singapore Launches But Offers Just One Trading Pair, Report. Cointelegraph. Binance to Launch US Platform Soon, Helped by a Little-Known Partner. Cointelegraph. Binance to Add Fiat-to-Crypto OTC Trading in a Month, Co-Founder Says. Coindesk.Copy trading allows beginners to automatically replicate the trades of experienced traders.This can be a useful way to learn about trading and potentially profit from the expertise of others. Pakistan makes waves in the crypto world with its latest initiative to attract miners by introducing crypto-friendly electricity tariffs. This groundbreakingBinance offers different copy trading modes, such as Fixed Amount and Fixed Ratio, allowing users to customize their allocation strategies.

Key Takeaways and the Future of Binance Singapore

The launch of Binance Singapore, initially with just one trading pair, was a strategic move that prioritized regulatory compliance and risk management. El sitio web de Binance Singapur sugiere que el servicio se ofrece conjuntamente con Xfers, un servicio de pago local aprobado por los entes reguladores de Singapur. Se enumeran tres pasos para los nuevos clientes: crear una cuenta en Binance Singapur, vincular su cuenta Xfers y empezar a comprar y vender bitcoin a su gusto.While the limited functionality may have disappointed some users initially, Binance has since expanded its offerings and integrated with local payment services to provide a more comprehensive trading experience.

Here are the key takeaways:

Binance Singapore launched with a limited offering of only one trading pair (BTC/SGD).
The initial launch was a strategic decision to prioritize regulatory compliance and risk management.
Binance Singapore has since expanded its offerings to include Ethereum (ETH) and Binance Coin (BNB).
The partnership with Xfers facilitates fiat-to-crypto transactions.
Binance Singapore is part of Binance's broader strategy to expand its global presence.

Looking ahead, it is expected that Binance Singapore will continue to expand its offerings and cater to the growing demand for cryptocurrency trading in Singapore.The future will likely involve adding more trading pairs, introducing new features, and further integrating with the local financial ecosystem.

Frequently Asked Questions

Why did Binance Singapore launch with only one trading pair?

The limited initial offering was a strategic decision to prioritize regulatory compliance, risk management, and user experience. After much anticipation and months of waiting, the Binance Singapore crypto exchange is now live, but lacks a lot of features compared to the company s main exchange, as first reported by TechCrunch. Currently the Singapore exchange only offers the purchase of Bitcoin using Singapore dollars, a trading pair that limits the exchange greatly.Launching with a single, well-established cryptocurrency like Bitcoin allowed Binance to demonstrate compliance and build trust with regulators while providing a simple entry point for new users.

What trading pairs are currently available on Binance Singapore?

Currently, Binance Singapore allows users to buy and sell Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) using Singapore Dollars (SGD).

How do I get started with Binance Singapore?

To get started, you need to create a Binance Singapore account, link an Xfers account, and then you can start buying and selling the available cryptocurrencies.

Is Binance Singapore safe and reliable?

Binance is a well-known and reputable cryptocurrency exchange, and Binance Singapore leverages Binance's security infrastructure and expertise. Binance has officially listed the AB token alongside a $1 million trading competition, marking one of the exchange s most incentivized new asset launches this month. The perpetual contract for LAUSDT pairs went live on J, with spot trading commencing two days later through Binance Wallet and Binance Alpha platforms.The partnership with Xfers also enhances security and reliability for fiat-to-crypto transactions.

What is the future of Binance Singapore?

It is expected that Binance Singapore will continue to expand its offerings, introduce new features, and further integrate with the local financial ecosystem.

Ultimately, Binance Singapore's journey highlights the complexities of navigating the cryptocurrency landscape, particularly in regulated markets.While the initial launch might have been modest, the platform's subsequent growth and expansion demonstrate Binance's commitment to serving the Singaporean crypto community.Consider exploring the platform for your own cryptocurrency needs and stay informed about the latest updates and developments.