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Binance News: Support Added for Five New Fiat Currencies

Binance, the popular cryptocurrency exchange, is multiplying its support for the crypto enthusiasts almost every so often world over. This move has followed the goal which Binance has taken to add 180 new fiat currencies in 2020.

Today, the world’s largest crypto exchange and #1 rank holder in spot trading (data by CoinGecko) announced its latest update on adding new fiat currencies via its official blog.

The exchange has extended its support for the five fiat currencies of the countries: the Colombian peso, the South Korean won, the Kenyan shilling, the Kazakhstani tenge, and Peru’s neuvo sol, through which users can buy cryptos on the platform. 

With this initiative, the establishment has provided considerable relief to the crypto traders/investors of these countries. Now they don’t need to rely on the EUR, USD, and other previously followed fiat currencies.

As per the information, at the launch Binance users can purchase six crypto assets: Bitcoin (BTC), Ether (ETH), (Binance Coin) BNB, Tether (XRP), Binance USD (BUSD), and USDT via Visa debit and credit cards with their national fiat currencies. 

Source: Twitter

Covid-19 Vs Binance Growth 

Due to the Covid-19 outbreak, world economies and traditional businesses are going through an uncertain phase, and cryptocurrency businesses are gearing up now and then. 

Reportedly, Binance seems to be topping on the list of cryptocurrency exchanges when it comes to achieving pre-set goals and making it a wining platform, whether for a common-user or a veteran trader. 

The centralized cryptocurrency exchange, which earlier used to be known as a crypto-to-crypto platform now has come on a long way while making its global subsidiaries and acquiring other crypto business including decentralized apps. 

Binance recently acquired the largest crypto data tracking website CoinMarketCap (CMC) for allegedly in $400 million to serve the crypto community more diligently. The deal has considered the most pricy deal of Binance so far. 

Last year, the company had acquired WazirX. Also, it supported Matic (Via IEO) from India, intending to tap the untapped and potential market of 1.3 billion people and to increase its user-base.