After months of rumours, Binance CEO Changpeng Zhao has confirmed that the exchange will soon offer fiat pairings—starting with the Euro.
The first fiat pairings will soon hit the world’s largest crypto exchange with Binance CEO Changpeng Zhao telling Bloomberg, the exchange will “soon allow customers to convert digital tokens into fiat currencies.” The move will be the result of months of planning, which has seen Binance shift jurisdictions several times to evade restrictive regulations.
While the last six months have seen a steep decline in cryptocurrency markets caps, Binance has been busily expanding, growing a user base of two million in January, into nine million by June. Fiat pairings are the next natural step, and Euro trading is just the beginning, according to Zhao, who gave no further details, but has spoken in previous interviews of plans to add fiat-crypto trading in other destinations. The company has strong ties with crypto-friendly jurisdictions around the world, and is said to be in talks with authorities and banks in Taiwan.
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