Singapore, the destination for the launch of the first fiat-to-cryptocurrency exchange, attempting a trouble-free entry for both, consumer and businesses to the cryptocurrency market.
As the exchange is doubled, EurekaPro, a Singapore-based fiat-crypto exchange, has announced its entry into the Southeast blockchain market. They have launched an open public beta which has over 8k signed up in the very first week.
The exchange can allow people to do shopping of cryptocurrencies with other fiat currencies – Singapore dollar, Malaysian ringgit, Indonesian rupiah.
Notes Junus Eu, CEO of EurekaPro, said that their platform represents a different and unique proposition for the blockchain space in the Southeast part of Asia, by detaching entry barriers to the cryptocurrency market that can resist consumers from adopting blockchain technology.
Opportunities in Southeast Asia
Southeast Asia has a population of around 655 million with the majority of growing middle-class people has endless opportunities for the blockchain community. EurekaPro, a company in Sweden, aims to act as a bridge to lower the gap of increasing tech-savvy population and blockchain space, by allowing unmatched ease of transaction between fiat and cryptocurrency.
As per reports, Singapore’s Monetary Authority collaborated with Deloitte, NASDAQ, and Anquan to develop some solutions for exchange as well as the final settlement of digital currencies and security assets.
Thailand has recently made a strong move by classifying cryptocurrencies as both securities and currencies depended on their deliberate aim. Moreover, for initial coin offerings (ICOs), the country has introduced detailed regulations, requiring them to follow strict pre-determined rules and have minimum around $157,000 base capital.
By the exchange that makes fiat-to-crypto safe transactions easier, EurekaPro aims to craft digital currency more accessible to businesses and consumers.
The CEO said early that the platform appears a distinctive theory for blockchain space in Southeast Asia.