August 14, 2022

Binance Exchange has announced the launch of a P2P exchange service with support for fiat currencies

Cryptocurrency exchange Binance has announced the launch of a P2P trading service with support for fiat currencies. First to start haggle Chinese yuan in BTC / CNY, ETH / CNY and USDT / CNY pairs.

At the first stage, access to the service will be availableOnly owners of Android devices with accounts registered more than 30 days ago. To do this, you need to download or update the Binance application to the latest version 1.12.1. In the future, it is planned to add support for iOS-based systems and the service will be available on the website of the exchange. To replenish your accounts with fiat currency, you can use the payment services Alipay and WeChat Pay, which are common in China.

“Last night, we launched P2P trading, startingfrom China. It is likely that now many Twitter users cannot use the service, but 1.4 billion people can already. Soon, the number of supported regions will be expanded, ”said Changpeng Zhao, CEO of Binance. “We are doing everything so that access to cryptocurrencies is as simple as possible for everyone.”

Recall plans to launch an over-the-counter serviceFiat-enabled trading for users from China was announced in mid-September. Then co-founder of the company He Yi (He Yi) said that this step is only part of a larger plan to increase the competitiveness of Binance in the Chinese market. She also added that the crypto-fiat platform is extremely important for Chinese traders, because local authorities are trying by any means to prevent the direct use of bank accounts for the purchase of digital assets.

At the moment, similar services in the local market are already provided by Huobi and OKCoin.