Binance Now Supporting Thai Baht and Australian Dollar

News / 08.01.2020

An announcement by Binance spelled out the exchange’s collaboration with Satang Corporation. Satang Corporation is among the oldest digital asset exchanges in Thailand. The aim of the collaboration is to establish Thai Baht (THB) fiat channels on the exchange based in Malta.

The co-founder of Satang, Poramin Insom, expressed himself about the collaboration. According to him, the corporation is proud of it as it is to bring in digital assets to the people in Thailand and to move the digital economy of Thailand to the next level.

He continued that the effort is significant to the growth of the digital asset domain in Thailand and pays attention to the technology behind the domain, not only as an option to fiat currency.

Besides Binance’s collaboration with Satang, the exchange is likewise now in collaboration with Banxa, an international fiat on-ramp solution, towards the provision of Australian Dollar (AUD) support.

While expressing himself, the CEO of Banxa maintained that they enjoy local and international payment options through a single integration, while Banxa handles every regulation, compliance, and charge backs. He expressed the delight in welcoming Binance into Banxa’s growing space of partners and anticipated a close working relationship with Binance’s team

A press revealed that Binance users can now buy cryptos with these currencies via the fiat gateway of the exchange. With the addition of the Thai Baht and the AUD, the exchange is currently supporting 22 fiat currencies for users to buy and sell cryptocurrencies.

The CEO of Binance, Changpeng Zhao, said that the company sees the co-existence of fiat and crypto for years ahead.  He stated that over 99.9% of the world’s money supply remains in fiat, and it is necessary to keep building bridges for smoother flow into crypto.

He noted the plans of the exchange to offer support for all 180 fiat currencies this year. In the previous day, the firm announced fiat support for the use of Visa cards to buy cryptocurrency with Swedish kronor and Polish Zloty.


Featured image courtesy of Shutterstock. Source: Cryptopress.

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.