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Binance launches 6 euro trading pairs amid fiat support expansion plans

Image: Binance

Fri, 03 Jan 2020, 10:34 am UTC

Cryptocurrency exchange Binance has announced that users will now be able to trade six major cryptocurrencies, including two stablecoins, against euro.

In an online post dated Jan. 03, the exchange announced the launch of BTC/EUR, ETH/EUR, BNB/EUR, XRP/EUR, EUR/BUSD and EUR/USDT trading pairs.

The announcement comes as Binance looks to expand its support for fiat currencies. In his 2020 New Year Message published on Thursday, CEO Changpeng Zhao said that the exchange currently supports 19 fiat currencies – US dollar (USD), UK pound (GBP), Swedish Krona (SEK), Canadian dollar (CAD), euro (EUR), Chinese yuan (CNY), Russian ruble (RUB), Turkish Lira (TRY), Nigerian naira (NGN), Ukrainian hryvnia (UAH), Kazakh tenge (KZT), Vietnamese dong (VND), Columbian Peso (COP), Polish złoty (PLN), Indian rupee (INR), Brazilian real (BRL), Argentine Peso (ARS), Mexican Peso (MXN), and Indonesian rupiah (IDR).

He said that support for three more fiat currencies will be added next week. Zhao added that the expansion of fiat support marks a “significant shift” away from being only a crypto-to-crypto exchange and towards being a fiat-to-crypto exchange.

“One of our key goals for 2020 is to bring crypto to the masses. For this, we aim to enable fiat-to-crypto trading for 180+ fiat currencies,” he said. “We always have a number of strategic acquisition discussions in the works, a couple of them are major and will have a significant impact. We will announce it in due time.”

Binance also launched P2P fiat trading in the final quarter of 2019. Zhao said that the initiative has seen “steady growth,” adding:

“The service is only available in selected Asian countries for now, but will be expanded to other countries in 2020.”

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