Binance Facilitates Fiat Currency Deposits via Alipay, WeChat
Binance, one of the top cryptocurrency exchanges, has started facilitating deposits in the form of fiat currencies through online payment service provider Alipay and mobile messaging and payment app WeChat.
The CEO of cryptocurrency exchange Changpeng Zhao informed details through a tweet on October 9.
Zhao also clarified that Binance does not have direct connection with WeChat or Alipay, but clients will be able to utilize them for P2P dealings.
The development follows the launch of Binance’ P2P trading for Bitcoin (BTC), Ether (ETH) and Tether (USDT) against the Chinese yuan (CNY) previously on October 9.
The facility is initially offered to Android users who already have Binance accounts which are at least one month old. The exchange intends to offer support for iOS soon.
The crypto exchange also rolled out the eighth stage of its lending product. On a first-come, first-serve basis, subscribers will be accepted. The subscription period starts on October 10 and ends on November 10, with interest being paid soon after maturity.
In late September, new market maker program of Binance was launched, focusing on users whose monthly trading volumes surpassed 1,000 BTC or can achieve such volumes, and who also have exceptional strategies to function as a market maker.
Again in September, Binance launched a custom built staking platform, facilitating clients to deposit their token holdings and receive staking rewards, but without a need to establish their own nodes to meet minimum staking amount and/or time period.