Binance Blockchain Ecosystem Enters South Australia’s Tech Hub

ADELAIDE, Australia--()--One of the world’s leading blockchain ecosystems Binance today announces its entry in the Australian market with the launch of Binance Lite, a simple and secure platform allowing users to exchange cash for digital currency, hiring Binance’s first Australian employee and committing their investee TravelbyBit to join the workspace in Lot Fourteen.

Announcing the news from Australia’s first international blockchain summit, the ADC Global Blockchain Summit, Binance is set to become an integral player in the Australian blockchain market as South Australia continues its support of blockchain ventures locally and nationally, steadily becoming the blockchain capital of Australia.

Binance Lite is a brand new platform where users can purchase digital currency at a network of 1,400 convenience stores across Australia, with 66 outlets in South Australia. The service provides digital currency enthusiasts a simple way to purchase digital currency and make blockchain-enabled transactions.

ADC 100 vice-chair Stephen Roux noted the importance of entrants such as Binance in socialising blockchain for businesses in Australia, "Binance’s market entry into Australia here at the ADC Global Blockchain Summit 2019 in Adelaide is symbolic. It not only represents the prize nature of Australia's consumer market as an opportunity on the global stage but also a milestone that was seeded in Premier Marshall's early vision to create an environment that has now attracted one of the most significant blockchain technology stakeholders in the world to establish their regional operations in South Australia, which will only further foster the growth of a longer term innovation ecosystem.”

Along with Lot Fourteen, a government funded tech hub set to become Adelaide’s premier blockchain innovation space, the South Australia government also awarded a $100,000 prize to the winners of the Blockchain Innovation Challenge, Wine Security by Clare Valley Wine and Grape Association and Seraph by Wright Technologies.

The Minister for Trade, Tourism and Investment, The Hon David Ridgway shared his excitement for Binance’s entry into the South Australian market and the rise in blockchain initiatives taking place, noting “we welcome any potential investment in South Australia as a result of this exciting global summit.”

Binance continuously works to build the global blockchain ecosystem, recently investing $2.5 million into Australian startup TravelbyBit. Binance CFO Wei Zhou said, “It's a strategic and innovative move for the South Australia government to commit to supporting blockchain technology and startups working in the digital currency space. Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause. We want to see Australia become a Blockchain Continent.”

About Binance

Binance is a blockchain ecosystem comprised of Exchange, Labs, Launchpad, Info, Academy, Research, Trust Wallet and Charity.

Binance Exchange is the leading global cryptocurrency exchange, with users from over 190 countries and regions. Capable of processing more than 1.4 million orders per second, Binance Exchange is the largest crypto exchange by trade volume and one of the fastest in the world. The platform focuses on security, robustness, and execution speed — attracting enthusiasts and professional traders alike. For more information, visit:

About Binance Lite

Binance Lite is a cash-to-bitcoin brokerage service where users can purchase the digital currencies like bitcoin by depositing cash at a network of supported newsagents across Australia. Binance Lite is operated by InvestbyBit, an independently operated subsidiary of the cryptocurrency exchange.

About ADC Global Blockchain Summit

The ADC Global Blockchain Summit brings together world leading entrepreneurs, financiers, regulators, researchers and innovators with Australian business leaders to focus on strategies and practical applications for business growth. The Summit focusses on Regulation, Business Application, Supply Chain and CryptoCurrency. The program aims to socialise Blockchain Technology in the business sector, examine public policy drivers and where they are globally, examine the regulatory environment for Blockchain, and examine the possible applications from public policy to application. ADC Forum has partnered with the Government of South Australia, CSIRO’s Data61, SALT, Shyft, Kingsland University School of Blockchain, and The Ethics Centre to deliver the international Summit in South Australia. ADC Forum is working with Australian Digital Commerce Association (ADCA) as the Australian blockchain industry partner, with key contributions, speakers and support from the Organisation for Economic Co-Operation and Development (OECD).

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