Binance plans to support all 180 currencies for its direct fiat-to-crypto trading facility

Cryptocurrency exchange Binance has plans to support all 180 fiat currencies of the world for its direct fiat-to-crypto trading facility.

Binance CEO Changpeng "CZ" Zhao announced the news at the exchange’s “super meetup” event in Singapore on Tuesday, saying: “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 [fiat currencies] onboarded onto Binance.com.”

Through the initiative, Binance wants to give customers “direct access to the large liquidity” available on the exchange, said CZ. The announcement reveals Binance’s strategy that it wants to work with third-party services to add as many fiat/crypto pairs as possible.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Binance currently supports five fiat currencies on its platform - Nigerian naira (NGN) and Russian ruble (RUB), euro (EUR), Ukrainian hryvnia (UAH) and Kazakhstani tenge (KZT). All have been added in the past few weeks via third-party payment platforms AdvCash and Flutterwave.

CZ first revealed Binance’s direct fiat-to-crypto trading facility on Oct. 21. He recently said that adding fiat on-ramps around the world is “very important for lowering the barrier to entry” and that users can expect “more pairs very soon.”

Binance currently supports fiat gateway channels via six third-parties - Koinal, Simplex, Paxos, TrustToken, Flutterwave and AdvCash.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.