Binance, the largest cryptocurrency exchange by trading volume, announced its strategic partnership a few days ago with Paxful, a marketplace where cryptocurrency such as Bitcoin can be purchased using fiat currencies. The exchange has again announced its support for Paxful to widen users’ options in buying crypto with fiat.
Binance exchange made the announcement via its official website a couple of minutes ago. Any user interested in leveraging this service can go straight to the Buy Crypto page. Then you can select your choice currency followed by clicking “Paxful”.
According to the report, any user that follows that procedure will be granted access to a selection of over 300 methods of payment. As soon as the above process is dully followed, the Binance account of such users will be automatically credited with the quota of the digital currency purchased without additional fees.
The major fiat currencies already supported by Paxful are Rissian Rubble (RUB), Indonesian Rupiah (IDR), Nigerian Naira (NGN), Vietnamese Dong (VND), Colombian peso (COP), Mexican Peso (MXN), British Pound (MXN), Euro (EUR), Argentine Peso (ARS) and United States Dollars (USD).
Binance Partners with FTX
Binance exchange has announced its strategic partnership with FXT, a leading cryptocurrency derivatives exchange. The collaboration tagged strategic will integrate the duo in working together towards the development and growth of cryptocurrency across the board.
Apart from the equity investment into FTX, the report has it that the cryptocurrency exchange Binance also agreed to a long-term position in the FTX token (FTT), with the aim of sustaining the growth of FTX ecosystem.
The partnership will bring about mutual benefits to both parties in the sense that FTX will be burdened with the building of liquidity and institutional product offerings across the Binance ecosystem, its exchange and over-the-counter (OTC) trading desk.
Binance will as well join FTX in its ongoing development of several products that will enable users to access the whole tokenized ecosystem.
Partnerships such as this are expected to widen the reach of cryptocurrency, increasing its chances of being adopted globally faster than expected.