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Southeast Asia’s First Fiat-to-Cryptocurrency Exchange Set to Launch in Singapore

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Southeast Asia’s First Fiat-to-Cryptocurrency Exchange Set to Launch in Singapore

Cryptocurrency trading just earned a major impetus in Southeast Asia, as the Singapore-based cryptocurrency exchange platform EurekaPro is set to launch the first ever fiat-to-crypto exchange platform in the region, per a report published by finews.asia on October 8, 2018.

Seamless Fiat-to-Crypto Transactions

The Singapore based fiat-crypto exchange is spearheaded by a team consisting of Junus Eu, Douglas Can, and Kin-Wai Lau.

In what is being dubbed a breakthrough for digital currencies in Southeast Asia, EurekaPro will facilitate seamless fiat-to-cryptocurrency support – enabling holders of the Singapore dollar, Malaysian ringgit, Indonesian rupiah, and other Asian fiat currencies to transact freely from fiat-to-crypto and vice versa.

It’s worth pointing out that more than 8,000 users have already signed up for the open public beta launched by the firm recently.

Entry into the Southeast Asian market provides enormous opportunities and growth potential for the fiat-to-crypto exchange. The socio-economic dynamics of the region, with a rapidly growing middle class, present a perfect platform for the development of the DLT space.

EurekaPro will act as a catalyst to bring closer the tech-savvy populace (a combined population of 655 million) of the region and the burgeoning blockchain technology industry.

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The firm will also provide around the clock services with 24/7 support for its customers. Junus Eu, CEO and co-founder of EurekaPro, shared his excitement about the launch of the crypto exchange in Singapore. He said:

“Our platform represents a unique proposition for the blockchain space in Southeast Asia, by removing or reducing entry barriers to the crypto market that may otherwise prevent consumers from adopting blockchain technology.”

Singapore Continues to Embrace Cryptocurency

Unlike other Asian countries like China and India, Singapore has embraced the budding cryptosphere with arms wide open.

BTCManager reported on September 7, 2018, on Asia’s first cryptocurrency-enabled VISA debit card poised to be launched in Singapore. The debit card will be linked to fiat and crypto wallets supporting BTC, ETH, LTC, MCO, and BNB in addition to seven fiat currencies including USD, the Singapore dollar, and the Hong Kong dollar.

The country is also investing heavily in distributed ledger technology in particular and the crypto industry in general. Taking such encouraging steps to allow hassle-free flourishment of the emerging technologies will help the nation in the long run.

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