Binance Adds Fiat Payment Options With Paxful Partnership

Binance has partnered with peer-to-peer crypto marketplace Paxful to integrate it’s “Virtual Bitcoin Kiosk,” which will allow customers to buy crypto with over 167 fiat currencies.

Binance Adds Support for 167 Fiat Currencies

The addition of Paxful to Binance’s platform should open the crypto market to millions of customers, with some of the fiat currencies supported by the service including the Russian ruble, Vietnamese dong, Indonesian rupiah, Nigerian naira, Colombian peso, British pound, Mexican peso, Canadian dollar, Euro, and Argentine peso. Paxful and founder Ray Yousseff said that his company had offers from some of the top 10 crypto exchanges, but will only be exclusively available on Binance.

“Paxful is proud to be partnering with Binance in our joint efforts to bring bitcoin to the masses. They share our passion and vision for the global crypto economy and we’re excited to see how this union will spur more financial access, and, consequently, opportunities, for people everywhere,” said Youseff. Paxful was founded in South Dakota in 2015 and has since grown to be a pillar of the crypto community, employing over 200 people and trading approximately $25 million USD worth of Bitcoin every week.

Further Partnerships

This partnership is just one in a series of alliances that Binance has made in recent weeks. Earlier this month, the exchange announced that it had acquired DappReview, which offers data-driven research and advertising services to blockchain-based decentralized applications (dapps). This deal should help Binance develop a range of exciting dapps and create new uses for blockchain technology. The company also said that it will begin supporting Tezos, the 12th largest cryptocurrency at present.

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However, it hasn’t been all plain sailing for Binance as of late. With the Chinese government cracking down on crypto firms operating in the country, the exchange has closed its Shanghai office after it was reportedly raided by police. Binance denied that the office was raided, but Chinese authorities had recently issued a notice instructing the public to report businesses engaged in virtual asset trading to the country’s central bank.

Featured Image: DepositPhotos © Grey82

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