Binance is Bringing Crypto-to-Fiat Transactions Very Soon
Currently, Binance is one of the leading crypto exchanges in the world. It is generally ranked among the top two on the basis of trading volume. For now, the exchange only provides crypto-to-crypto transactions only. But according to the company, in coming months it is all set to bring in the crypto-to-fiat transactions as well.
Currently, Binance users are only allowed crypto-to-crypto transactions. But according to Changpeng Zhao, Binance CEO, the exchange will start euro trading. Once the company headquarters are moved to Malta and all the arrangements are made this would come into reality within some months time.
Euro in the third most used currency by the traders all over the globe for buying or selling cryptos. Japanese Yen and US Dollars are the other top two on the list.
Binance users currently have an option of USDT( Tether ) for crypto trading. It is considered to be stable because its price is linked with that of US dollar. But in recent past, there were certain cases where it has been involved in different scandals about the funds that are behind it.
Changpeng Zhao, Binance CEO confirmed that the exchange will introduce support to other fiat pairs which have not been specified by the platform. But the details about how or when are not disclosed.
At the moment, the exchange is working with the Malta Stock Exchange so as to integrate all the different services offered by Binance to the small European island.
The European island Malta has provided a very crypto-friendly environment for enterprises and investors. And Binance moving its headquarters to the island will open new crypto- and blockchain-related in the island.
The exchange is looking to invest in decentralized exchanges, payment platforms, and stable coins. A few weeks ago Binance announced that it was starting a $1-billion-dollar fund so as to invest in crypto and other blockchain startups.
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