Binance Expands Fiat Gateway For Traders And Investors
Binance was recently in the spotlight when the exchange revealed that they are expanding services in Australia.
The most important crypto exchange teamed up with the fintech company Banxa in order to offer crypto investors, traders, and enthusiasts a fiat on-ramp, according to the latest reports.
Binance CEO, Changpeng Zhao addressed a few words about the partnership:
“We believe fiat will co-exist with crypto for a long time to come. More than 99.9% of the global money supply is still in fiat, and we need to continue building bridges to enable easier flow into crypto,” he said.
He continued and explained that: “In 2020, we aim to add support for all 180 fiat currencies. Banxa is a partner who shares our mission of making cryptocurrency accessible to people around the world.”
Binance expands fiat gateway
Now, Binance allows traders to buy Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), and XRP using the Norwegian Kroner (NOK) and Croatian Kuna (HRK) by linking their Visa cards.
According to Binance, users are able to complete the digital currency purchases in under a minute without having to deposit first. The exchange is planning to add support for Mastercard and other coins in the future.
Binance introduced a new fiat on-ramp in Singapore. The platform also allows traders to purchase and sell BTC, ETH, and BNB using Singapore dollars (SGD).
It’s been also revealed that the exchange has also launched Binance Uganda (UGX) and Binance Jersey (EUR, GBP) as part of its network of fiat-to-crypto platforms.
Institutional players are buying XRP and ETH
Other than that, Binance made headlines not too long ago as well when it’s been revealed that new numbers coming from Binance are showing a massive part of institutional players are buying ETH and XRP at an increasing pace.
This triggered enthusiasm in the crypto community.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.