Binance Introduces Thai Baht and Australian Dollar into Its Ecosystem

News / 08.01.2020

Following Binance announcement, it explains the collaboration exchange with Satang Corporation, which is considered as the oldest digital currency exchange in Thailand. Based on this collaboration, the main point of focus was in light of the Thai Baht (THB) fiat channel establishment following exchange in Malta. 

Binance Collaboration 

Satang co-founder, Poramin Insom, expressed his opinions regarding the collaboration. He explained his thoughts stating that he was impressed and proud of the introduction of digital currency assets to the citizens of the Thailand region. The merger was focused on leading the region into an advanced digital economy accelerated by the Binance exchange. He kept the comments clear in light of proving the significance of immense growth in the digital asset domain in the region. Other than that, Poramin paid accurate attention to the technology that fostered the domain, based on other options besides fiat currency. 

Banxa Collaboration

Apart from this collaboration between Binance and Satang, the exchange was also assimilated with the international fiat that follows ramp solutions, in the support and provision of Australian Dollar (AUD). According to the Banxa CEO’s expressions involving the collaboration, he stated that the network handled various functions varying from compliance, regulation, to even chargebacks, as they benefited greatly from both international and local payments. He also expressed his deep gratitude that followed Binance welcoming the functionalities of Banxa partners and stated his expectations in anticipating close working relationships. 

Furthermore, from what the press reveals, Binance customers can now access and buy digital currencies through fiat exchange gateways. Moreover, with THB and the Australian Dollar contribution, the exchange now supports an average of 22 fiat currencies in relation to the user suppliers and buyers of digital currencies. 

Binance CEO Comments 

The Binance CEO, Changpeng Zhao, also commented on the matter where he mentioned the crypto and fiat coexistence expected in the coming future. This was based on his thoughts as well as factual information with regard to fiat currencies that are currently utilized globally and make up for over 99.9% of the total money in the supply. The CEO of Binance further pointed out the need for integrating fiat support by enabling investors to purchase digital currencies with VISA cards through Polish Zloty or Swedish kronor.

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Born in Bucharest, Marius is the founder of Crypto Adventure. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.