Crypto exchange giant Binance has announced support for six Euro (EUR) trading pairs as the platform continues its fiat expansion. Company CEO Changpeng Zhao says the exchange is looking to enable support for as many as 180 fiat currencies.
Buy Cryptos Like Bitcoin and XRP on Binance Using Euro
Binance announced the move in a blog post published on its website on Friday (January 3, 2020). According to the post, Binance users now have access to six Euro trading pairs which cover the three top cryptos Bitcoin (BTC), Ethereum (ETH), and XRP, as well as its own stablecoin Binance USD (BUSD), Binance Coin (BNB), and Tether (USDT).
An excerpt from the post reads:
“Binance will open trading for BTC/EUR, ETH/EUR, BNB/EUR, XRP/EUR, EUR/BUSD and EUR/USDT trading pairs at 2020/01/03 8:00 AM (UTC). Please note: The Euro (EUR) is a national currency and does not represent the ticker of other existing digital assets.”
The announcement makes EUR the latest fiat currency enabled on the Binance platform. Back in January 2019, the exchange giant debuted EUR trading pairs on Binance Jersey, a subsidiary service.
With this move, crypto traders now have access to EUR pairs on the main Binance marketplace but traders from the U.S. remained barred. Binance had initially enabled EUR deposits and withdrawals in November 2019.
Following issues with regulatory agencies, Binance created a dedicated trading channel for its American customers called ‘Binance US.’ The company has since been expanding the trading options available to its U.S.-based traders as stakeholders await clear cut crypto regulations in the country.
Binance Looking to Expand Fiat Support to More Currencies
For Zhao, Binance is looking towards enabling even more fiat currency options for its crypto traders. As part of a New Year address to the exchange’s customers, the Binance CEO remarked:
“One of our key goals for 2020 is to bring crypto to the masses. For this, we aim to enable fiat-to-crypto trading for 180+ fiat currencies.”
So far, Binance has fiat trading pairs for more than 20 fiat currencies across the globe including the Nigerian Naira (NGN), Canadian Dollar (CAD), Australian Dollar (AUD), Chinese Yuan (CNY), and Indian Rupee (INR) to mention a few.
Back in October 2019, BTCManager reported that Binance had enabled support for the Russian Ruble (RUB) on its platform. Binance CEO Zhao even declared that Russian was an important market in the developing crypto ecosystem.