February 9, 2023

Binance Exchange will add support for all 180 fiat currencies of the world

According to Binance cryptocurrency exchange CEO Changpeng Zhao, the platform plans add support for all 180 fiat currencies of the world.

“One of the key things I want to do over the next 6-9 months is to add all 180 fiat currencies to Binance.com,” he said.

According to Zhao, Binance intends to provideClients have “direct access to high liquidity” available on the exchange. This statement discloses the exchange’s plans for cooperation with third-party services to add as many trading pairs with fiat currencies as possible.

Binance currently supports on its platform trading with five fiat currencies - the Russian ruble, the Ukrainian hryvnia, the Kazakhstan tenge, the Nigerian naira and the euro.

These currencies have been added in the last fewweeks through third-party payment systems AdvCash and Flutterwave. Binance currently supports fiat gateways through six intermediaries - Koinal, Simplex, Paxos, TrustToken, Flutterwave and AdvCash.

For the first time on adding fiat currencies to the platformIt became known at the end of October. Zhao previously stated that adding fiat trading is "very important to lower the barrier to entry into the cryptocurrency industry" and that users can expect "more pairs very soon."