Binance has been one of the top players in the cryptocurrency market. This behemoth has painted a new industry while keeping up with the fast-moving industry. Adding yet another feather to its hat, Binance’s Australian arm has been recognized as a firm to watch in Deloitte’s Technology Fast 50 Awards for 2020.
According to reports, Binance Australia was placed eighth in the Rising Star category of the prestigious awards. Binance Australia has witnessed steady growth since it launched to the Australian market earlier this year. Acknowledging the same, CEO of the cryptocurrency exchange, Jeff Yew stated,
“Given the positive crypto environment we’re operating – we’re expecting this to continue to skyrocket. We’re excited by this rapid growth, and we have ambitions to be the number one cryptocurrency exchange in Australia. We want Binance Australia to be the go-to platform for cryptocurrency users”
The category emphasizes those companies which have recorded high levels of revenue growth over a period of fewer than three years. In addition, according to Technology Fast 50 Leader, Deloitte Partner Josh Tanchel, the Rising Star category recognizes those companies who are making a real name for themselves in a particular sector and who are geared to create further scale in the coming years.
Binance launched the new Australian fiat-to-crypto exchange platform back in July. The Australian local onramp to the broader Binance ecosystem is registered with AUSTRAC, which happens to be one of the country’s primary financial enforcement agencies.
Thanks to Australia’s favorable policies, the country has been at the forefront of blockchain technology innovation. The latest development not only indicated the company’s growth in rapidly expanding demand of digital assets and crypto adoption but also Australia’s progressive attitude in terms of the crypto industry.
Back in 2017, the Australian government had declared that cryptocurrencies were legal and precisely noted that Bitcoin and cryptocurrencies should be treated as property, and subject to Capital Gains Tax [CGT].
Besides, TWJ had earlier reported a partnership between Binance Australia and Blockchain Australia, an industry entity for Australian businesses and professionals in the blockchain industry. As a part of this collaboration, the cryptocurrency exchange was set to assume a seat on Blockchain Australia, in addition to other local industry experts, to help advance the blockchain technology adoption in the country as well as to advocate for desirable regulatory and policy settings alongside the local industry experts.