- Binance users can now buy Bitcoin with practically all of the fiat currencies in existence
Binance, which is one of the leading cryptocurrency exchanges in the world, has partnered with the peer-to-peer crypto exchange Paxful. Via this partnership, Binance users can now use 167 different fiat currencies to buy Bitcoin. This is practically all of the fiat currencies that exist in the world, considering that only 180 different fiat currencies are officially recognized by the United Nations, and 50 of those are pegged to other fiat currencies. Essentially, there are only 130 independent fiat currencies in the world, and Binance likely covers all of them now.
Apparently the goal of the Binance-Paxful partnership is to reach the 2 billion people who are unbanked worldwide. Additionally, Binance simultaneously announced the launch of their Latin America fiat gateway, and in November, it launched a fiat gateway for Turkey.
It seems Binance has become the most comprehensive cryptocurrency exchange in history with this latest news. In the past cryptocurrency exchanges usually only accepted a single fiat currency, with some of the bigger exchanges accepting a few major fiat currencies. Never before has a cryptocurrency exchange accepted all of the fiat currencies in the world, and perhaps this will help drive global crypto adoption.
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