Binance Adds Faster UK Pound Payments in New Fiat Funding Options

Malta-based digital currency exchange Binance has included a range of new fiat funding options since the first of the year, including quicker payments for U.K. pounds-bearing clients. 

The firm revealed on January 8 that the new development comes by means of a new collaboration with fiat-to-crypto payments provider Banxa, which also enables the company to provide Australian dollar and euro purchases straightforwardly from Binance’s site. The company underscores that the euro option is accessible in “selected European countries” at first.

The official statement comes only a day after the exchange stated it was supporting deposits in Thai baht by means of a collaboration with API solutions provider Satang Corp, along with fiat gateways for Polish zloty and Swedish krona.

By and large, the company’s fiat payment alternatives currently come to 21 currencies after a shift away from absolutely crypto-to-crypto trading that commenced last autumn.

“We believe fiat will co-exist with crypto for a long time to come,” Binance CEO Changpeng “CZ” Zhao said in the announcement. “More than 99.9 percent of the global money supply is still in fiat and we need to continue building bridges to enable easier flow into crypto.”

Binance intends to include support for “all 180 fiat currencies” in 2020, CZ further said.

In other Binance news, the exchange states it has set up $1 million in its BNB token to kick-start a donations program that will support relief operations for territories hit by Australia’s bushfires. Supporters can give donations in BNB by means of a dedicated site page here.