Malta-based crypto exchange Binance announced that it would add Euro for its fiat-to-crypto trading facility on its platform. Earlier, the exchange had adapted many such measures including Nigerian naira (NGN) and Russian ruble (RUB), now totaling up to five such adaptations.
The support for these fiat currencies has been enabled via electronic payments platform AdvCash, which is headquartered in Gibraltar, a British Overseas Territory located at the southern tip of the Iberian Peninsula.
“Adding Fait on-ramps very important for lowering the barrier to entry”
In an AMA session on Twitter, the Binance CEO- Changpeng Zhao, said that adding fiat on-ramps around the world is very important for lowering the barrier to entry. He also added that users could expect more pairs very soon. Now, Binance users can buy bitcoin, ether, XRP directly using their Binance wallet balance.
Binance continues to add more channels to its fiat gateway
So far, Binance has partnered with six payment processors, including Koinal, Simplex, Paxos, TrustToken, Flutterwave, and AdvCash. London-based payments processor Koinal was the last one to collaborate with the crypto exchange giant. Binance informed that Koinal integration would allow users to buy five major cryptocurrencies– bitcoin (BTC), bitcoin cash (BCH), Ether (ETH), Litecoin (LTC) and XRP using Visa and MasterCard debit and credit cards, as well as via wire bank transfers.