Binance launched the Peer-to-Peer (P2P) trading of Bitcoin, Ethereum, and Tether against the Chinese Yuan (CNY), China’s native currency. The announcement was made on the company’s website on Wednesday, where it stated that android users, with updated versions, will be able to use the service if their Binance accounts are more than 30 days old. It further said,
“Please download or update to the latest Binance Android app for access to this service. We will slowly roll out this service to iOS and web interface users going forward.”
This was long expected from Binance, as it has been at the pinnacle of innovation ever since it was launched in 2017. The crypto exchange is biggest in the world terms of trading volume and has over 150 coin offerings. The P2P trading of the most popular tokens with fiat currencies is a step forward in terms of adoption, and if it goes as planned, Binance may further implement the service for other cryptocurrencies as well.
Interestingly, Airtm, an e-wallet and e-money transfer platform, announced on Tuesday that it will now support P2P trading for Binance Coin (BNB). BNB has a market cap of over $4.5 billion and is currently the 7th largest cryptocurrency in the world. In a Medium blog, Airtm stated,
“We are pleased to offer the Binance Coin on our platform to help spread the growth of cryptocurrency adoption in Latin America, offering people in the region with more options and accessibility.”
Inclusion on Airtm will give the Binance coin a big boost, as the platform is associated with more than 300 banks and other monetary institutions. Being one of the most diverse crypto companies in the world, Binance wants to expand its reach to users in countries with financial restrictions, to realize the ultimate crypto dream of the decentralized economy for the masses.