Binance crypto trading platform adds Fiat support for Vietnamese currency
To expand its business footprints, major digital currency trading platform Binance has launched P2P trading services for Vietnamese dong. Now Binance will enable traders to directly buy, sell and store major digital currencies - Binance Coin (BNB), Ether (ETH), Bitcoin (BTC) and Tether (USDT) – using fiat.
Binance always looks forward to making some good changes and follow a series of development, just because of that the exchange support for fiat was introduced. Earlier Binance stated that it's their plan to add support for as many as 180 fiat currencies to its trading platform. After the Chinese yuan(CNY), Vietnamese dong is the second fiat currency introduced on the P2P trading platform. Binance CEO, Changpeng Zhao, Commenting on the Vietnamese dong development, said: “Binance is committed to providing our global users with more convenient fiat gateways and easy access to cryptocurrency, and our P2P service aims to lower the barriers to entry to the crypto world. We are pleased to introduce fiat-to-crypto P2P trading services to Vietnamese users to flexibly trade cryptocurrency at low costs.” He also added: “Vietnam has enormous economic growth potential, a vibrant entrepreneurship landscape, and wide cryptocurrency acceptance, making it the next global blockchain hub. We look forward to expanding our services for the local community and supporting the growth of the Vietnamese blockchain ecosystem.” Earlier crypto trading platforms were not allowing people to trade directly without the need of any third party to access the trades. But P2P cryptocurrency exchange is basically an exchange of assets at a crypto market place between traders with no central body development. P2P cryptocurrency exchanges are providing direct trading facilities to traders. Meanwhile, Vietnam has maintained a pessimistic stance towards cryptocurrency. In 2018, Vietnam’s financial regulator had put a blanket ban on companies from any kind of dealing related to digital currency. As of last 2019.