Binance, the famous cryptocurrency exchange wants to support all fiat currencies in the world for its direct fiat-to-crypto offering.
Changpeng “CZ” Zhao, the CEO of Binance, has announced during the company’s super meetup that he wants to get 180 fiat currencies onboard Binance.com, in the next 6 to 9 months. He also said that this initiative of his is aiming to offer Binance customers “direct access to the large liquidity” the exchange has available. This means Binance will have to work with third parties in order to add the fiat pairs.
There Are 5 Fiat Currencies on Binance at the Moment
CZ’s platform supports only 5 fiat currencies at the moment. These are Euro (EUR), Russian ruble (RUB), Nigerian naira (NGN), Kazakhstani tenge (KZT) and Ukrainian hryvnia (UAH). They have all been added during this month and in October, through the payment platforms Flutterwave and AdvCash. The fiat-to-crypto trading facility on Binance was first revealed by CZ on October 21st. He wants to add fiats to lower the entry barrier for new users, so people should expect more pairs in the near future, CZ said.