Binance Launches P2P Crypto Trading in India and Indonesia

Siamak Masnavi

On Tuesday (April 14), crypto exchange Binance announced that its Peer-to-Peer (P2P) trading platform now supports two additional fiat currencies: Indian Rupees (INR) and Indonesian Rupiah (IDR).

Binance's P2P platform was first launched in October 2019 on Binance's mobile apps. Then, on 28 February 2020, Binance said that this platform had become available on the web.

Binance said its blog post that from today, it is possible to buy/sell Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), stablecoin Tether (USDT), and stablecoin Binance USD (BUSD) -- with zero transaction fees -- using the aforementioned two fiat currencies on its P2P platform.

It went on to say that the integration of INR and IDR "takes the number of acceptable fiat currencies on the Binance P2P trading platform to 20."

Binance Co-Founder and CEO Changpeng Zhao (aka "CZ") had this to say:

“India and Indonesia are two of the largest emerging markets with tremendous potential in crypto adoption, and we are pleased to empower the massive population with easy-to-use crypto access.

"On Binance.com,  we offer our users various fiat-to-crypto access, and P2P trading is a simple approach for users to buy and sell crypto in multiple payment methods.

"Moreover, users can earn profits from trading cryptocurrencies with other users or verified merchants on the Binance P2P trading platform.” 

Featured Image Courtesy of Binance