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Crypto exchange Binance has added more fiat currencies in its peer-to-peer (P2P) trading platform.
Binance announced that it just added support for the New Taiwan Dollar and the Australian Dollar in its P2P trading platform against Bitcoin (BTC), Tether (USDT), Ether (ETH), BNB, Binance USD (BUSD) and EOS.
Binance is also looking for local P2P merchants who have a stable source of cryptocurrencies and TWD and AUD. Merchants can make profits by offering TWD or AUD, provide cryptocurrency trading, and enjoy tailored benefits including zero-fee security deposits, zero transaction and ads fees, VIP discounts, and more.
In March, Binance launched its P2P trading in Latin America and added five fiat currencies – Brazilian Real (BRL), Argentine Peso (ARS), Colombian Peso (COP), Mexican Peso (MXN), and Peruvian Sol (PEN) in Latin America.
“Latin America is one of the most active regions for cryptocurrency trading, and peer-to-peer trading is widely used in the Latin American community,” said Binance CEO Changpeng Zhao (CZ). “To better serve our users’ large demand for crypto, we are offering an open marketplace with the best P2P trading experience.”
Following the integration, users not only enjoy zero transaction fees, but it also gives them access to various financial services including spot, margin, futures trading, and lending directly on Binance.com using the Binance P2P platform.
The Binance P2P platform was launched in October 2019 and started by supporting six fiat currencies. It immediately attracted over 100 merchants worldwide to offer fiat-to-crypto trades. In the first two weeks of March 2020, Binance experienced a huge increase in P2P trades amounting to $140 million.
“Amidst the current global economic uncertainty, cryptocurrency is still a favorable asset with great potential use despite its price volatility. This has been illustrated by the recent increasing purchase on our P2P platform. For the massive unbanked population in Latin America, cryptocurrency is a more promising financial asset, and we are glad to directly provide the financial access and service for them,” said CZ.
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