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.