Binance Exchange adds 5 new fiat currencies

It has been a busy month, or should we say a busy year so far for the cryptocurrency world as it has faced numerous ups and down due to many confronting issues. However, there have also been new decisions made by financial bodies in order to strengthen the crypto-currency exchanges and value using fiat currencies.

The Binance Exchange has currently announced on April 10th, 2020, that five new countries have been added to the list of crypto exchanges via their use of Visa debit and credit cards. The list of countries/currencies that will benefit from this new development are;

  • Colombian Pesos
  • South Korean Won
  • Kenyan Shilling
  • Kazakhstan Tenge
  • Peruvian Nuevo-sol

This announcement made by Binance only mirrors the positive focus of improving and expanding the platform of its users in the crypto market and all crypto-currencies including Bitcoins (BTC), Tether (USDT), Ethers (ETH), Binance Coin (BNB), Binance USD (BUSD), and Ripple (XRP).

Up until yesterday’s announcement, there was an allegation of illegitimate access block of a South Korean crypto investor into his account and the aforementioned announcement by Binance was easily seen as a response to the allegation.

The allegation was, however, seen as a false claim by Binance as it was later identified as a fee listing scam that had occurred in South Korea. The issue was immediately presided by the South Korean authorities. 

Binance Exchange unveils new platform

Binance also announced that it has recently acquired Coin Market Cap, a formidable exchange platform that will now be accepting fiat currencies on the site. Changpeng Zhao, Binance exchange CEO, also stated that its independence will be withheld, as stated as one of the terms in the new deal.

The service has also made it clear that the move to add more fiat currencies to exchange is not to devalue them but to increase their acceptability worldwide while making exchanges and business much easier.

Leave a Comment