The world’s leading crypto exchange by trading volume and users Binance has announced support for the Australian dollar (AUD) and Thai Baht. Now users will be able to purchase crypto assets on Binance with the Australian dollar, Euro, and British pound.
On Jan 7, the major crypto exchange Binance announced to add support for national currencies. During the announcement, the exchange explains that the Thai transfers will be handled by Thai digital asset exchange Satang Corporation while the transfers of Australian Dollar (AUD) will be processed by the company Banxa.
Binance partners with Banxa
The leading global crypto exchange has announced its partnership with Banxa. It is a company that is specialized in internationally compliant fiat-to-crypto gateways solutions for crypto exchanges and wallets.
This partnership agreement is beneficial for Binance users in Australia as they can get access to easy and fast fiat transfers with the Australian Dollar (AUD), Euro, and British pound. Bank transfers, bill and retail payments, and credit cards are the supported payment methods. The CEO of Banxa Holger Arians believes that this service will also handle regulation, compliance, and chargebacks.
Changpeng Zhao, the CEO of Binance also commented on this partnership agreement and said that we aim to add support for all 180 fiat currencies in 2020. As he comments:
We believe fiat will co-exist with crypto for a long time to come. More than 99.9% of the global money supply is still in fiat and we need to continue building bridges to enable easier flow into crypto. In 2020, we aim to add support for all 180 fiat currencies.
Satang’s fiat processing service
The fiat processing service of Thai digital asset exchange Satang Corporation has also been integrated into the Binance trading platform with the help of the application programming interface. This interface enables and permits users to deposit and withdraw baht into their accounts easily.
Furthermore, the CEO and co-founder of Satang, Poramin Insom stated that through this collaboration, the adoption of digital assets will increase in Thailand.