On Wednesday, Binance, one of the leading cryptocurrency exchange platforms, tied-up with Banxa, to combine British pound faster payments services (FPS) with Australian dollar on-ramp services. As announced, this partnership will enable the dealers on the Malta-registered exchange to buy digital currencies directly from Binance.com via three fiats – Australian dollar, British pound and Euro. Besides this, the FPS service will guarantee immediate transactions with GBP.
Arians Statement On This Partnership
The CEO of Banxa, Holger Arians, stated that their company has always enabled cryptocurrency wallet and exchange to convert fiats to cryptocurrencies quickly. He also added that with a single integration, their partners take advantage of both local and global payment system, while the company takes the responsibility of all chargebacks, compliance and regulations. Banxa is happy to embrace Binance into their expanding partner’s ecosystem and is willing to work with Binance’s team.
Binance Is Targeting The Fiat Markets
Binance started trading through fiat in Europe via its subsidiary Binance Jersey last year. The platform enables its European customers to exchange cryptocurrency with Euro and pound. However, the fresh start of the fiat-based services on its main platform will provide several trading options.
Changpeng Zhao’s Mission
Founder and CEO of Binance, Changpeng Zhao cited that they believe fiat and cryptocurrency will co-exist for a long time. As 99.9% of money supply all around the world exists in the form of fiat, they need to build connections to allow easier flow into crypto. According to the CEO, their company’s objective is to support more than 180 fiats in the future, for which, Banxa would prove to be the best partner to complete their mission to make cryptocurrency accessible across the globe.
According to a report, both Binance and Banxa will be including more currencies and countries to serve the global market over the coming months, which will offer a more timely and reliable global and local payment methods.