Binance, one of the largest crypto exchange platform across the world, has recently supported Nigerian Naira on its Peer-to-Peer platform. It will allow the users of African nations to transact BTC, USDT, ETH, BNB and BUSD with Fiat Naira, and involves zero transaction fees.
In recent month, Binance paved the way for various new initiatives in Nigeria to serve the unbanked population majorly. The company aimed to lure the younger generation by providing them accessibility to crypto trade by using fiat currency Naira. In October 2019, Binance started its first fiat trading with the Nigerian currency through the partnership with Flutterwave, a fintech startup.
Cryptocurrency is getting popular in Nigeria as evident by Binance, which notices a considerable number of investors from Nigeria. Also, several merchants started accepting the payments in crypto coins like Bitcoin and Ethereum. By seeing the crypto movement amongst the citizens of Nigeria, the country is planning to set up the regulatory procedure for digital currency.
You May Also Read: New Nigerian Naira Fiat Trading Pair on Binance.
Binance, led by CEO Changpeng Zhao, has maintained its position in the cryptosystem. The blockchain-based exchange is continuously involved in establishing the new partnerships that too across the world and also acquired the number of exchanges to expand the crypto trading platform.
As the leading exchanges are extending their base to the countries which are less fortunate in terms of technology and digital currency, it creates the opportunity for the people who wanted to invest in crypto coins. Thus, for the global adoption of cryptocurrencies, other exchanges must see the prospects to partner with firms associated with small countries as well as extending their support to the less tech-savvy countries.