Binance may soon add support for Ukraine's and Kazakhstan’s currencies for direct fiat-to-crypto trading

Quick Take

  • Crypto exchange Binance may soon add support for Ukraine’s and Kazakhstan’s fiat currencies for direct crypto buying
  • The Block has learned that the two currencies were today added to Binance’s API 
  • Binance CEO Changpeng “CZ” Zhao recently said that users can expect “more pairs very soon”

Cryptocurrency exchange Binance could soon add support for Ukrainian hryvnia (UAH) and Kazakhstani tenge (KZT) for its direct fiat-to-crypto trading facility.

The Block has learned that UAH and KZT currencies were today added to Binance’s application programming interface or API.  Last month, when Binance added support for Nigerian Naira (NGN) on Oct. 24 and Russian ruble (RUB) on Oct. 31, it had added these two currencies to its API on Sept. 24 and Oct. 29, respectively.

The support for NGN is enabled via a partnership with U.S.-based payments tech firm Flutterwave, while RUB has been integrated through Gibraltar-based electronic payments platform AdvCash.

It remains to be seen which third-party service Binance would choose for UAH and KZT currencies if they are added next. The Block has reached out to Binance for comment and will update this story if they reply.

The direct fiat-to-crypto trading facility was first revealed by Binance CEO Changpeng "CZ" Zhao on Oct. 21. In a recent Twitter ask-me-anything (AMA) session, CZ 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 continues to expand channels for its fiat gateway. Currently, there are six such channels - via Koinal, Simplex, Paxos, TrustToken, Flutterwave and AdvCash.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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