Binance to Add 180 New Fiat Currencies to Its Direct Fiat-to-Crypto Offering

Leading cryptocurrency exchange Binance is planning to add 180 new fiat currencies into its Binance.com platform to up its direct fiat-to-crypto trading offering.

According to Micky, Binance’s COE Changpeng Zhao announced he was looking to add all remaining fiat currencies to the platform during the exchange’s “super meetup” in Singapore, where he said:

One of the key things I want to do for the next few months – six to nine months or so – is to get those other 180 onboarded onto Binance.com.

The initiative, Zhao added, is going to help users have access to “the large liquidity” on the cryptocurrency exchange, which started offering fiat-to-crypto trading with Nigerian Naira trading pairs being added in October.

Since then Binance added new fiat gateways to its direct fiat-to-crypto trading offering, as it partnered with Advcash to improve its fiat currency support adding the European euro (EUR), the Russian ruble (RUB), the Ukrainian hryvnia (UAH), and the Kazakhstani Tenge (KZT). Currently the firm supports fiat via five third-parties besides Advcash: TrustToken, Paxos, Simplex, Koinal, and Flutterwave.

In the Singapore event Zhao also noted Binance was going to focus on improving its customer service. He noted that before Binance appeared some users had to wait months for a response after submitting support tickets on other cryptocurrency exchanges.

While binance claims to be able to answer support tickets in 24 hours, it’s looking to shorten that time to “one hour, now, or less.” Its goal is to make so that the “maximum time you will wait an hour, 24 hours a day, anywhere in the world.”

HTC’s upcoming blockchain phone with support for Binance’s decentralized exchange was also addressed, with Zhao touting smartphones will “play a key role in the mass adoption of crypto.”

Featured image by Niels Steeman on Unsplash.