With the intention of entering a number of local markets, Binance, a digital currency exchange that is based in Malta, added fifteen new crypto assets to their platforms after they entered a partnership with Simplex. Stablecoins based on traditional currencies such as the Korean won (KRW), the Polish zloty (PLN), the Australian dollar (AUD), the Swiss franc (CHF), and the African rand (ZAR) have been launched into the crypto world through Binance’s fiat-to-cryptocurrency trading network. On the other hand, there are also the Pound Sterling (GBP) and the Russian Ruble (RUB) that are supported by the Simplex network. The integration of Simplex with Binance has been officially confirmed and, according to developers, the new features will be fully functional in only a week’s time.
The new traditional currencies that have been integrated into the Binance network through Simplex will be paired with the main digital currencies on the exchange that are used by the crypto platform for base trading pairs. Some of these crypto assets are the three biggest ones in the market, which are Bitcoin (BTC), Ether (ETH) and XRP and the main traditional currencies include the United States dollar (USD) as well as the Nigerian naira (NGN).
The partnership of Binance with Simplex has been going on since the beginning of last year. This enabled consumers to purchase digital assets with the use of credit and debit cards with the United States dollar (USD), Canadian dollar (CAD), Euro (EUR) as well as the Japanese yen (JPY). The fee for the service is 3 percent with an additional 10 USD for under 200 USD purchases, it is cheaper than many other such services out there. Binance is increasing their influence worldwide by helping people trade in their traditional local currencies and crypto.
Meanwhile, Bitcoin along with Altcoins are seeing great advancements since the beginning of the new decade. For more information on the most prominent digital asset, BTC & its price as well, take a look at Bitcoin Price updates as well as Bitcoin (BTC) Price Predictions.