Binance start to accept fiat currencies through Alipay and WeChat

Rajan Dhall, MSTA FX Daily

One of the biggest exchanges in the world (Binance) has started to accept fiat currencies through Alipay and WeChat according to CEO Changpeng Zhao (aka CZ) who confirmed the news on Twitter.

Zhao was very quick to clarify that, while it is accepting payments through the two Chinese services, the company are not working directly with WeChat or Alipay. He then noted that users are still able to use them for peer-to-peer transactions.

The move comes after the implementation of the companies peer-to-peer trading for Bitcoin, Ethereum and Tether against the Chinese yuan which started earlier today.

This is not the only new news that has come from Binance recently as the company confirmed a new lending product which will be available on a first come first serve basis. The subscription service starts tomorrow and will end on 10th November with the interest payments going to the users on the end of the term. The company have also rolled out their new market maker program which targets users whose monthly trading volumes exceed 1,000 BTC.

It looks like there are big things going on at Binance and they need to do this to keep up with the market and ensure the growth trajectory continues.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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