According to the director of cryptocurrency exchange Binance, Changpeng Zhao, the platform plans to add support for all 180 fiat currencies of the World.
According to Zhao, Binance intends to provide customers with "direct access to the great liquidity" available on the exchange. This statement discloses the exchange's plans for cooperation with third-party services to add as many trading pairs with fiat currencies as possible.
"One of the key things I want to do for the next few months – six to nine months or so – is to get those other 180 [fiat currencies] onboarded onto Binance.com,"he said.
Binance currently supports on its platform trading with five fiat currencies - the Russian ruble, the Ukrainian hryvnia, the Kazakhstan tenge, the Nigerian naira and the euro.
These currencies have been added in the past few weeks through third-party payment systems AdvCash and Flutterwave. Binance currently supports fiat gateways through six intermediaries - Koinal, Simplex, Paxos, TrustToken, Flutterwave and AdvCash.
For the first time, the addition of fiat currencies to the platform became known at the end of October. Zhao previously stated that adding fiat trading is "very important to lower the barrier to entry into the cryptocurrency industry" and that users can expect "more pairs very soon."