Binance Expands its Reach in Partnership with Paxful, Adding 12 Currencies & 300 Payment Methods

Quick Look:

  • Binance adds Paxful and Latamex to the list of AdvCash, Paxos, Simplex, Flutterwave, Koinal, and TrustToken
  • P2P platform Paxful supports 167 countries and 300 payment methods including online wallets, vouchers, and gift cards
  • Though Latamex, the largest digital assets settlement network across Latin America, Binance adds Brazilian real and Argentine peso

The world’s leading cryptocurrency exchange Binance has partnered with fintech startup Paxful that will serve as a fiat-to-crypto on-ramp for its users.

With this partnership, Binance users will be able to use Paxful directly on Binance.com and buy BTC with 10 fiat currencies viz. Argentine peso (ARS), the euro (EUR), British pound (GBP), Mexican peso (MXN), Canadian dollar (CAD), Colombian peso (COP), Indonesian rupiah (IDR), Nigerian naira (NGN), Vietnamese dong (VND), and Russian ruble (RUB).

Paxful can actually facilitate fiat payments in more than 167 currencies, as such more currencies are expected to be added on Binance in future. The peer-to-peer exchange will exclusively provide its kiosk service to the exchange.

Expanding the Reach

Founded in 2015, Paxful has its offices in New York City, Hong Kong, Estonia, and the Philippines. It supports more than 300 payment methods including online wallets, vouchers, and gift cards.

The platform is currently conducting more than $25 million in trading volume per week as per Coin Dance and recently hit its all-time high in USD.

Source: Coin Dance

This partnership is also beneficial for Binance in reaching the developing countries where non-P2P platforms don’t work while bank transfers are only available during business working hours.

Binance Partners with Settle Network

Paxful has become yet another fiat gateway partner of Binance joining the list of AdvCash, Paxos, Simplex, Flutterwave, Koinal, and TrustToken.

Today, Binance added Latamex to this list as well. Latamex/Settle Network is the largest digital assets settlement network across Latin America.

With this partnership, Binance now allows its users to buy crypto with Brazilian real (BRL) and Argentine peso (ARS).

Binance already allows for P2P trading for its Chinese users on its platform via AliPay and WeChat.

It further supports Indian Rupee (INR), Turkish lira (TRY), Nigerian naira (NGN), Kazakhstani tenge (KZT), Ukrainian hryvnia (UAH), Ruble (RUB) and the Euro to buy Bitcoin (BTC), BNB, Ethereum (ETH), XRP, Litecoin (LTC), and Bitcoin Cash (BCHABC) under its “Venus” initiative.

Anjali Tyagi
Anjali Tyagi
Anjali has been with the B.E.G. news team since pre-2017 bull run and specializes in breaking down crypto twitter analysis and bitcoin pricing insights. Before his dealings with the blockchain industry, he worked with a non-governmental organization fundraiser by the name of Doctors Without Borders. Now he covers all things bitcoin and crypto market full time and will continue being one of the most-sought after authors in the industry.

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