This Wednesday, Binance Exchange announced the start of cooperation with the Banxa service, which will allow its users to buy cryptocurrencies for Australian dollars, euros and British pounds.
Payments in pounds are made through the Faster Payments (FPS) system, which provides an almost instant transfer of funds. FPS is a British banking initiative that allows you to reduce the transfer of funds between different banks from three business days to several seconds. Exchanges such as Coinbase and Coinfloor already work with the system.
Banxa allows crypto exchanges, wallets and other crypto platforms to offer instant fiat to crypto conversions. With only one integration, our partners benefit from both local and global payment options while Banxa takes care of all regulation, compliance and chargebacks. We are very delighted to welcome Binance into our growing ecosystem of partners and look forward to working closely with the team at Binance.
Binance currently supports more than 20 fiat currencies through eight partners: Simplex, Koinal, Paxful, AdvCash, Papara, Flutterwave, Latamex and Banxa. Changpeng Zhao, CEO of Binance, previously stated that his company’s goal for 2020 is to support all 180 fiat currencies. According to the latest announcement, in the coming months their number will increase with the participation of Banxa.
In addition, Binance continues to actively expand the list of contracts available on its derivative platform Binance Futures. Only this week, the company announced the launch of contracts for XRP and EOS, and today a contract for Litecoin has been added to them. The LTC / USDT perpetual contract will be launched on January 9 at 8:00 UTC. When opening positions, users will be able to choose the desired shoulder size from 1 to 75x.