Binance is now accepting fiat through AliPay and WeChat, opening up the exchange to peer-to-peer crypto transactions from China, following a September announcement concerning the exchanges intention to add over-the-counter trade options for an additional fiat on-ramp.
Although an expected development, the move was first disclosed on Twitter and later confirmed by Binance CEO Changpeng Zhao Wednesday.
For now, bitcoin for fiat trades are only available.
Binance is not working directly with WeChat or Alipay.
Users are able to use them in P2P transactions for payment.
Words/meaning get twisted as they are passed around.
One of the largest social media apps globally, WeChat currently has over 1.1 billion active users according to Statisa.
Payment application Alipay has over 900 million users as well per the China Daily.
Since the 2017 banning of cryptocurrency exchanges by the People's Bank of China, P2P trading has predominated in China.
Earlier this year, CoinDesk reported P2P exchange Hodl Hodl reconfiguring its security preferences to sidestep China's Great Firewall.
Binance Now Accepting Fiat Through Alipay, WeChat
Publicado en Oct 9, 2019
by Coindesk | Publicado en Coinage
Ethereum traders prepare for massive volatility as options volume hits record highs
Ethereum's recent really from the lower-$200 region to highs of $245 has allowed it to reverse the immense downtrend it had previously been caught in against its Bitcoin trading pair.
Bitcoin News Roundup for June 1, 2020
Jun 1, 2020 at 16:04 UTC.With bitcoin and ether both headed up, CoinDesk's Markets Daily is back with your bitcoin news roundup.
Private Swiss Bank Rolls Out New Premium Crypto Trading Service
Private Swiss bank Maerki Baumann's new crypto trading service shows there's a growing market for providing premium execution for an institutional or wealthy clientele.
On the 'Bitcoin Fixes This' Meme
As the U.S. experiences the most sustained civil disobedience in more than a generation, an exploration of what role bitcoin has to play in building a better system.