Binance, the arguably largest cryptocurrency exchange by trading volume and users’ capacity, has recently announced its partnership with Banxa, a global fiat on-ramp solution to enhance local and global payment methods.
Users of the exchange can now buy digital currencies with the Australian Dollar (AUD), Euro (EUR) and British Pound (GBP) via the Binance Buy Crypto page.
According to the exchange, the process of each transaction will be fast and cost-effective with GBP bank transfers on its trading platform through Faster Payments (FPS).
The global fiat on-ramp solution Banxa is fully specialized in providing internationally compliant fiat-to-crypto gateway solution for wallets exchanges, and other enterprises operating within the cryptocurrency ecosystem.
Other Benefits of the Binance and Banxa Partnership
Binance users in Australia, the United Kingdom (UK) and some discretely selected countries are the major beneficiaries of the exchanges’ partnership with Banxa.
The partnership will enhance the users from the selected countries to experience a smooth and user-friendly cryptocurrency purchase activities on Binance trading platform.
Users are also opened to various methods of local payment, which include but not limited to bill payments and bank transfers. The benefit also includes access to global payment methods such as credit and debit cards.
Banxa CEO, Holger Arians showcased its delight in the partnership with Binance, stressing the positive impact to expect.
He said, “Banxa allows crypto exchanges, wallets, and other crypto platforms to offer instant fiat to crypto conversions. With only one integration, our partners benefit from both local and global payment options while Banxa takes care of all regulation, compliance, and chargebacks. We are very delighted to welcome Binance into our growing ecosystem of partners and look forward to working closely with the team at Binance,”
The CEO of Binance, Changpeng Zhao, also shared his delightful emotion regarding the recent and thoughtful partnership with the global fiat on-ramp solution, Banxa.
He said Banxa is a company that operates in line with Binance policy and mission of making digital currency reachable and accessible for the people across the world.
He also stressed on the coexistence between fiat currency and cryptocurrency, averring that the relationship between the two forms of currencies will get stronger with time.
He said, “Banxa is a partner who shares our mission of making cryptocurrency accessible to people around the world. 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.”
According to the report, the two partners will be incorporating more countries and currencies subsequently to bring about convenient and secure local and global payment methods.