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Binance’s global P2P merchant program goes live

Image by Binance

Wed, 22 Jan 2020, 09:07 am UTC

Cryptocurrency exchange Binance announced on Tuesday in a press release that it just launched its global peer-to-peer (P2P) Merchant program.

Binance said that it decided to launch the program to address the increasing demand from its users worldwide and to deliver higher liquidity. It marks the first time that the exchange is openly enrolling merchants on its P2P trading platform that was launched last October.

With the new program, Binance global P2P merchants would now be able to earn revenue by simply providing fiat currency payment solutions. They will also enjoy zero transaction fees and professional service support from the company.

“When we first launched our P2P trading services last October, we carefully selected merchants to protect users’ interest.” Binance CEO Changpeng “CZ” Zhao.

“In the past quarter, there has been increasing growth in trading volumes on Binance P2P platform, and we have constantly received requests for more fiat-to-crypto access from our global community. To meet the growing users demand, we are seeking credible merchants for Binance P2P trading platform globally. We welcome quality payment services providers to join Binance’s Global P2P Merchant Program.”

The Global P2P Merchant program adopts an "elimination mechanism" to deliver a quality experience and protect the interests of outstanding merchants.

Meanwhile, Binance has just added support for Vietnam’s fiat currency on its P2P trading platform. Users are now allowed to buy and sell cryptocurrencies using Vietnamese Dong (VND) in the latest version of the Binance mobile app. Zhao said that they plan to expand the service over time and add more countries throughout this year.

“One of our key goals for 2020 is to bring crypto to the masses. For this, we aim to enable fiat-to-crypto trading from 180+ fiat currencies,” he said.

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