Binance's Fiat-to-Crypto Trading Services Will Be Provided B Third-Party, CEO Reveals

Binance’s chief executive officer Changpeng Zhao has revealed the company’s upcoming fiat-to-crypto trading services are set to be provided through third-party services.

The CEO revealed the news through an interview with Russian news outlet RBC, but didn’t disclose which third-party services will be providing the service. He also noted Binance is looking to issue debit cards tied to users’ balances on the cryptocurrency exchange.

The company lets users buy cryptocurrencies using their debit cards, through third-party services like Simplex and Koinal. Its fiat-to-crypto trading is set to be start off with the Russian Ruble, according to Changpeng Zhao’s announcement.

Interestingly, Zhao also advised those who use cryptocurrencies for crime- presumably those who use crypto exchanges to launder money or to acquire funds to use on darknet markets – to not register on Binance. He said:

As a rule, we do not massively provide information to any regulator. But in individual cases - yes ... therefore, if you are engaged in crime, you do not need to register for Binance.

Elsewhere in the interview he revealed he believes Binance is one of the next tech unicorns to rise in the future, equivalent to Amazon or Facebook. CZ also said Russia will soon add cryptocurrency regulations.

In what he called a “casual humor half-joke” CZ also said one of the most influential individuals in the cryptocurrency space is Russia’s President Vladimir Putin. Earlier this year when U.S. President Donald Trump bashed cryptocurrencies, Zhao noted that Trump talking about crypto is a good thing.

Featured image via Pixabay.