Binance will offer traders OTC transactions with Fiat

Users Binance will provide access to conduct FIATA-cryptocurrency-exchange deals. Information about this shared with reporters, Manager of marketing Department I. Heh

The course on China

It is known that in the framework of providing access to OTC transactions, the company’s specialists will provide its users with the opportunity to work with the Chinese yuan. According to Hye, And this decision should strengthen the position of Binance on the Chinese market.

It is noteworthy that earlier Binance, for the first time in a long period of time, realized the transaction with the investment in the Chinese market. The head of the company invested
popular in China cryptocurrency magazine. The attachment will presumably allow Binance to control the news around the platform.

Despite the diversity of investments, investing in the Chinese market by the company may indicate the interest of the members of the platform to expand the business in Asia.

Why Binance OTC direction?

On the backdrop of the ban crypto-Fiat trading on the part of the Chinese authorities and the ban ICO, part exchanges were forced to leave the country’s borders. Some platforms began to develop over-the-counter direction. With it, users can buy and sell cryptocurrency for the yuan and other Fiat, bypassing restrictions.

Thus, investment in the development of over-the-counter areas can have a positive impact on the level of profit Binance. Another advantage will be to attract more users, which was not previously available crypto currencies due to regulatory ban.

Author: Vitalik

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