It was earlier reported that World’s largest Crypto Exchange Binance was exploring fiat trading options in collaboration with several banks and would allow users to buy digital assets with US Dollars.
At the moment, investors have to go through a lengthy, time and money consuming process to buy high cap coins, like Bitcoin and Ethereum, and invest in digital assets. For such trading system, many investors loose interest in investing in crypto trading.
Binance, a forward-thinking company has considered adopting the fiat trading system to ease the investment process and open up the market to many new investors who were reluctant because of the current trading system.
This news has boosted the trading volume of Binance with over $2 billion in the past 24 hours. The US dollar market is also affected by the news and also showed a significant upward trend over the last 24 hours.
However, a spokesperson from Binance rejected the idea of collaborating with US Dollars and termed it as “fake news”. Hours later, Binance CEO Changpeng Zhao also confirmed on Twitter that, although they are working with Banks for potential fiat options, there are no plans including US Dollars in near future.
Banks won't allow it.
Binance is by far the best exchange! Best of luck to them! Upvoted!
just tried binance looks like a great exchange
brother you any comment awesome please give me one upvote thank you so much
Indeed! It's one of the largest. :)
Since they chose Malta for operations we should expect Euro pairs.
I think, having moved to malta, they will first allow euro crypto pairs, then gbp and then usd. Asian currencies will follow later and developing nations will have to wait a long time as those nations have some form of control over currency transfers.
I do not see the need of binance adding up a fiat pair trading in their system since they already have a pegged USD pair in their platform.if individual want to withdraw fiat money,they can do it in their tether account provided their account is verified
Great article and very informative, thanks for sharing. I've smashed the upvote button for you!
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Really! That's good! I think Binance is trying to level up their service which is good for their traders.
Thats Good? Really? How? Please explain.
thanks for the binance update, hope it comes up with lots of awesome features soon 😊
Too much regulation for usd. Even as a us citizen i try to use as little usd as possible.
Haha! Indeed! USA always wants to regulate things that they are afraid of :P
Uff, hopefully they will bring it in future. Actually i believe this is a minor drawback for binance.
wont need coinbase soon!
Did you read the article fully bro? It's not accepting anytime soon :D
i dont think banks will allow it nowadays. thanks for your share though
There is little doubt on how big Binance exactly is but let’s be honest. This is not thinkable for a NORMAL ICO owner (creator), as this is something that is well known. This is why I little care about Binance and what goes on there UNLESS they allow normal ICOs.
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