Binance, announced that it had added support for five new fiat currencies on its platform. The exchange announced on Friday that they had added support for fiat currencies of five countries that include Colombia, South Korea, Kenya, Kazakhstan, and Peru. Traders from these countries can now directly deposit their local fiats using credit or debit cards.
Binance aims to add over 180 fiat currencies by the end of 2020
The cryptocurrency exchange Binance added support for five new fiat currencies as a part of the exchange’s goal to add over 180 fiat currencies by the end of this year. Binance has been adding support for new fiat currencies quite rapidly. Earlier it added support for Russian Rubel and many other currencies. The exchange also announced that it had listed four cryptocurrencies and two stablecoins against the newly added fiat currencies, including Bitcoin, Ethereum, Binance Coin, Ripple, USDT, and BUSD.
Binance continues to acquire local businesses all over the world.
Crypto exchange Binance has been on an acquisition spree from the last few years. Recently Binance acquired CoinMarketCap for an undisclosed sum to expand its business. Binance is even planning to open a local exchange in South Korea following its acquisition of BxB. Later last year, the exchange acquired local Indian crypto exchange WazirX to expand its market in the second-most populous country in the world.
Binance has added several fiats markets from all around the world, including euro, Russian ruble, and Turkish lira on its main platform. The exchange is also planning to venture into the crypto mining industry by launching a mining pool. However, Binance CEO Changpeng Zhao did not appear on the Forbes’ list of 2,000 billionaires in the world. Binance is the world’s largest crypto exchange in the world in terms of volume.