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 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 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.