Major cryptocurrency exchange Binance has expanded its fiat currency support to include the Australian Dollar (AUD) and Thai Baht (THB), enhancing accessibility for users in these regions.
Partnership with Satang Corporation and Banxa
Binance announced on January 7th that it would integrate support for multiple fiat currencies through strategic partnerships:
- Thai Baht (THB): Processed via Satang Corporation, a Thailand-based digital asset exchange. Satang's API integration allows users to deposit/withdraw THB directly within their Binance accounts.
- Australian Dollar (AUD): Facilitated by Banxa, a compliant fiat-crypto gateway. Banxa enables faster AUD, EUR, and GBP transactions through bank transfers, credit/debit cards, and retail payment options.
Statements from Key Partners
- Poramin Insom, CEO of Satang, emphasized the collaboration’s role in accelerating digital asset adoption in Thailand.
- Holger Arians, Banxa’s CEO, highlighted the service’s adherence to regulatory compliance and refund processing standards.
Binance’s Expanding Fiat Integration
Binance, the second-largest crypto exchange by trading volume, continues to aggressively onboard fiat currencies. Recent milestones include:
- Launching six EUR trading pairs earlier this month.
- Supporting JPY and CAD via credit/debit card purchases in December 2019.
CZ’s Vision for Fiat-Crypto Bridges
Binance CEO Changpeng Zhao (CZ) reiterated the importance of fiat gateways:
"We believe fiat and crypto will coexist long-term. Over 99.9% of global money supply remains fiat, so building bridges for seamless crypto conversions is critical. Our goal is to support all 180 fiat currencies by 2025."
FAQs
1. How can I deposit Thai Baht (THB) on Binance?
Users can transfer THB via Satang Corporation’s integrated API, accessible through Binance’s platform.
2. What payment methods does Banxa support for AUD transactions?
Banxa accepts bank transfers, credit/debit cards, and retail payment options.
3. Why is Binance focusing on fiat integrations?
Fiat support lowers entry barriers for new crypto users, aligning with Binance’s mission to boost mainstream adoption.
👉 Explore Binance’s latest fiat options
4. Will Binance add more fiat currencies soon?
Yes, Binance plans to progressively onboard all 180 fiat currencies by 2025.
Key Takeaways
- New Fiat Support: AUD and THB join Binance’s growing list of fiat options.
- Regulatory Compliance: Partners like Banxa ensure secure, compliant transactions.
- Strategic Growth: Binance aims to bridge the gap between traditional finance and crypto.
👉 Start trading with AUD/THB on Binance today
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