According to Binance CEO Changpeng Zhao, investors in China can now purchase cryptocurrencies like bitcoin using local payment processors like AliPay and WeChant through Binance. The confirmation of AliPay and WeChat integration by Zhao comes a month after the announcement of Yi He, the co-founder of Binance, of a fiat-to-crypto over-the-counter trading platform launch in China. The addition of AliPay and WeChat options comes in conjunction with the launch of Binance’s P2P trading functionality for Android users, which likely eliminates jurisdictional restrictions that makes the fiat on ramps possible. “Binance has launched P2P trading functionality with BTC, ETH and USDT available for trading against CNY (Chinese Yuan). Access to P2P trading will be initially provided to Android users
Topics:
Joseph Young considers the following as important: China, Cryptocurrency News
This could be interesting, too:
W. E. Messamore writes Did a Shanghai Court Just Legalize Bitcoin in China?
Chayanika Deka writes Nano Labs Seeks Financial Boost with Bitcoin Payments Amid Financial Struggles
Chayanika Deka writes Chinese E-commerce Giant Alibaba Downsizing Metaverse Unit to Streamline Operations: Report
Temitope Olatunji writes X Empire Unveils ‘Chill Phase’ Update: Community to Benefit from Expanded Tokenomics
According to Binance CEO Changpeng Zhao, investors in China can now purchase cryptocurrencies like bitcoin using local payment processors like AliPay and WeChant through Binance.
The confirmation of AliPay and WeChat integration by Zhao comes a month after the announcement of Yi He, the co-founder of Binance, of a fiat-to-crypto over-the-counter trading platform launch in China.
The addition of AliPay and WeChat options comes in conjunction with the launch of Binance’s P2P trading functionality for Android users, which likely eliminates jurisdictional restrictions that makes the fiat on ramps possible.
“Binance has launched P2P trading functionality with BTC, ETH and USDT available for trading against CNY (Chinese Yuan). Access to P2P trading will be initially provided to Android users (Version: 1.12.1) that have Binance accounts registered for over 30 days,” the Binance team said.
By targeting the OTC and P2P markets that have been largely dominated by exchanges like Huobi and OKEx throughout the past two years, Binance is expected to gradually expand its services into the Chinese market.
CCN has reached Binance for comment and will update the article as the story develops.
This article was edited by Samburaj Das.