Leading crypto exchange Binance announced about launching (peer-to-peer ) P2P trading system that will allow trading BTC, ETH & USDT against the Chinese Yuan (CNY).
The exchange reports that during the initial period the service will be available to Binance existing users who have Binance accounts registered for at least 30 days and trading will take place on the Android interface. After the launch on Android, peer-to-peer service step by step will also be available for iOS users and on the web interface.
This new P2P service permits direct interaction of two subjects without any public order placing and as soon as two users place matching orders, the platform connects only those involved in the transaction.
To have access to this new service, Binance asks the users to update to the latest Binance Android app.
CEO of Binance Changpeng Zhao noted that P2P trading will be expanded to other regions in the near future:
Last night, @Binance Launches P2P Trading, starting with China. Most of CT probably can’t use it yet, but 1.4 billion people can. We will expand the service to other regions soon.
— CZ Binance (@cz_binance) October 9, 2019
Binance also has an intention to release an off–exchange platform.