Binance Adds Vietnamese Dong to P2P Platform

Leading crypto exchange Binance on Monday announced the launch of peer-to-peer (P2P) trading services for the Vietnamese dong (VND).

With this, the platform will allow traders to buy and sell four digital currencies - Tether, Bitcoin, Ethereum, and Binance Coin - using the fiat.

Last year, the Malta-registered exchange added support for Chinese yuan on its P2P platform, bypassing the country’s ban on centralized crypto exchanges. Vietnamese dong became the second fiat listed on the platform.

Mentioning the development, Binance’s founder and CEO Changpeng “CZ” Zhao said: “Binance is committed to providing our global users with more convenient fiat gateways and easy access to cryptocurrency, and our P2P service aims to lower the barriers to entry to the crypto world. We are pleased to introduce fiat-to-crypto P2P trading services to Vietnamese users to flexibly trade cryptocurrency at low costs.”

Adding more and more fiat-based services

This also came at a time when the global crypto exchange is expanding its fiat-based services in full force all around the globe. The exchange also recently enabled fast Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term services (FPS) for British pound deposit and withdrawals.

“We hope to provide multiple fiat-to-crypto access for our users in over 180 countries and eventually achieve our mission of freedom of money,” Zhao added.

Moreover, Binance is also looking at Vietnam as one of the crypto hubs in the Southasian region and is specifically targeting the country with its services.

“Vietnam has enormous economic growth potential, a vibrant entrepreneurship landscape, and wide cryptocurrency acceptance, making it the next global Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term hub,” said CZ. “We look forward to expanding our services for the local community and supporting the growth of the Vietnamese blockchain ecosystem.”

Meanwhile, the exchange invested in a blockchain startup in South Korea and is in talks with two Japanese crypto companies for partnership in the country.