Southeast Asia’s First Fiat-To-Crypto Exchange Sets Up Shop in Singapore

Oct 10, 2018 at 0:16

Southeast Asia’s first fiat-to-crypto exchange was launched in Singapore.

Originally founded in Sweden, EurekaPro has entered the Southeast Asian blockchain market with an aim to make fiat-to-crypto trading easier in the region, financial news website reported.

EurekaPro—which is led by a team consisting of Junus Eu, Douglas Gan, and Kin-Wai Lau—will allow traders holding Singapore dollar, Malaysian ringgit, Indonesian rupiah, and other Asian fiat currencies to trade on its platform.

“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,” EurekaPro co-founder and CEO Eu said.

“EurekaPro aims to empower consumers with two things: the knowledge to harness the potential of blockchain through our online education platform; and the means to break into the crypto market by making fiat-to-crypto transactions easier,” he said.

Southeast Asia has a combined population of 655 million and a rapidly growing middle class, which presents endless opportunities for the blockchain space.

The region is also home to a burgeoning blockchain community.

In fact, it has gained over 8,000 users during its public beta launch.

EurekaPro began as Overswitch AB, a company headquartered in Sweden until it moved its international team in Singapore and Malaysia.