Binance was recently in the spotlight when it’s been reported that
crypto exchange Binance and the blockchain platform Tron have been blocked by microblogging platform Weibo, the Twitter of China, says China Times.
Recently, the Chinese government seemed to soften its stance on crypto mining by removing it from a list of banned activities.
Binance brings crypto to 1 billion people
Now, according to the latest reports, Binance acquired India’s leading digital asset platform WazirX and it enables crypto traders in India to buy and sell BTC and more digital assets with fiat currencies.
Starting November 25, users will get the opportunity to log in to the Binance Fiat Gateway (a fiat-to-crypto portal) in order to convert Indian rupees (INR) into crypto.
This integration is reportedly designed to help bring crypto to more than a billion people.
Users will have the ability to place orders on Binance.com and the Binance iOS/Android app in trader to purchase USDT against INR.
The online publication the Daily Hodl noted that the Q1 2020 integration will allow users to trade any digital asset that is available on Binance.com by buying USDT from the WazirX crypto marketplace.
Binance makes increased efforts to bring crypto to people around the world
It’s been also revealed that the WazirX acquisition and integration are part of the huge efforts that Binance has been making at a global scale to bring crypto to people around the world.
The goal of mass crypto adoption has been the top priority for the crypto industry this year.
According to info coming from the Daily Hodl, WazirX has more than 200,000 app downloads.
Binance CEO Changpeng “CZ” Zhao stated the following:
“The young demographic in India gives an edge to adopt and build on new financial technologies, and I believe this will play a vital role in making India a global blockchain innovation center to also spur cryptocurrency adoption throughout the larger public in the country.”
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