Binance, the world’s largest cryptocurrency exchange company, is reportedly planning to open live¬†money trading for its upcoming Singapore fiat-to-crypto exchange starting on September 18.

According to a tweet by¬†Binance¬†CEO¬†Changpeng “CZ” Zhao, the news was first revealed during a breakout session at the¬†Cumberland Summit in Singapore last week. This discussion featured major industry leaders, including Gemini’s Tyler Winklevoss and Michael Arrington of Arrington XP Capital.

According to CZ, the live trading will begin as a closed beta, meaning that only select invited users will be able to participate. There is no indication at this time what digital currencies will be available for trading at launch.

The news comes just a month after Binance LCX, a joint venture between Binance and LCX, has announced the launch of an upcoming fiat-to-cryptocurrency exchange in Lichtenstein.

Singapore stands as an up-and-coming hotbed of crypto activity, largely due to the country’s newly revamped regulatory framework that is designed to spur blockchain innovation. Binance’s new exchange will face significant competition, including¬†KuCoin the recently launched BITBOX.

Similar: Binance LCX Launches Fiat-to-Crypto Exchange in Liechtenstein
Related: Binance Takes on CoinMarketCap with New Market Intelligence App

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.