According to the co-founder and marketing director of the largest cryptocurrency exchange Binance, the company plans to launch an over-the-counter platform on which trading in fiat currencies will be available.
He Yi stressed that the launch of the platform will be part of Binance’s plan to strengthen its presence in the Chinese market. Also, a new payment service will soon be launched so that users of 170 countries can buy cryptocurrencies on Binance.com using fiat money.
The launch of an over-the-counter platform with RMB support will be one of the most important steps to strengthen Binance’s presence in the Chinese market. The fact is that local authorities prevent the direct interaction of Chinese banks with cryptocurrency exchanges, as well as deposits in RMB.
Yesterday it was reported that the exchange launched the US division of its trading platform. At the same time, the site will be inaccessible to residents of 13 states due to regulatory problems. In addition, this week, the trading of the new stablecoin BUSD, released by the Binance exchange together with Paxos, should start.
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