Binance adds support for 15 fiat currencies

Jonny
Published by:
Posted on 07/07/2020

Binance announced today that its platform now supports 15 more fiat currencies. The popular global cryptocurrency exchange now supports the British pound, Euro, Australian dollar, Hong Kong dollar, New Zealand dollar, Canadian dollar, Mexican peso, Swiss franc, United Arab Emirates dirham, Czech koruna, Norwegian krone, Polish zloty, Swedish krona, Hungarian forint, and Danish krone.

The addition of 15 currencies was made possible with Binance’s partnership with Etan Custody, which is a crypto asset and fiat money institutional custodian. Users of the Binance platform are able to transfer money through a SWIFT wire transfer, which can easily be made worldwide.

“After linking Binance accounts to Etana accounts, Binance users can wire funds directly from their bank accounts to Etana, and then have their Etana fiat balance credited to the corresponding Binance accounts instantly and free of charge by initiating a fiat deposit request on Binance,” said Wei Zhou, Chief Financial Officer of Binance.

Changpeng Zhao, who is the co-founder and Chief Executive Office of Binance, stated, “The integration helps make access to digital assets more effortless for people across the European, Asian, North American and Oceanian markets.”

As an introductory offer, Etana is waiving deposit and custody fees on transactions above $1,000 through August 5. Customers will have to deal with a $35 bank wire transfer fee even during this promotional period. Withdrawal and deposit limits are dependent on the user’s Binance account level. The minimum withdrawal and deposit amount for all users is $150.

Adding 15 new fiat currencies is just one piece of Binance’s global expansion plans. The company revealed last month that it will be opening a regulated cryptocurrency trading platform for retail and institutional investors in the UK.

More information about all of Binance’s offerings can be found at www.binance.us.

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