Binance Adds Fiat-to-Crypto Gateway for Nigeria’s Niara

A fiat-to-crypto gateway for Nigeria’s Niara (NGN) has been added to Binance, the company stated.

Made possible by payments network Flutterwave, the option begins a new stage of Binance, including sub-Saharan fiat pairs, the company said in an announcement. In “the near future” the high-volume worldwide exchange will also open doors for South Africa’s Rand (ZAR) and Kenya’s Shilling (KES), Binance stated.

Initially, Binance restricted the Nigerian trading sets to BUSD/NGN, BNB/NGN and BTC/NGN at launch. Investors can deposit between 150 NGN (about $.40) and 430,000 NGN (about $1,200) for a 1.4% fee, Binance stated in a blog entry.

Binance said a month ago that it wanted to add fiat-to-crypto OTC trading.

Binance didn’t reply to request for further comment.