Binance has never been afraid of taking the initiative when it comes to pushing the crypto envelope. They are one of the most successful exchanges and have been quickly branching out to new and exciting avenues.
Binanace is no longer just focusing on exchange services, having integrated futures trading, and even leverage trading, but on the topic of their exchange services, the personable head has made mention that he wants to be as inclusive as possible.
Speaking at a Super Meetup in Singapore, Changpeng Zhao said that it is his intention, in the coming few quarters, to onboard basically every fiat currency on the globe.
“One of the key things I want to do for the next few months – six to nine months or so – is to get those other 180 [global fiat currencies] onboarded onto Binance.com,” Zhao said. “We want to have them directly on Binance.com wherever possible so that this way, they have direct access to the large liquidity on Binance.com,” he added.
It is a bold undertaking, but one that makes a lot of sense for the adoption and integration of crypto globally. It is also a special position for Binance to be in; their growth has gotten them to a point where it is entirely conceivable that this is achievable.
The advantages are clear for Binance, who have spread their offerings and services far and wide, but this integration would, as stated, boost liquidity and increase Bianance’s reach incredibly.
Currently, Binance supports the European euro; Ukrainian hryvnia; Kazakhstani tenge; Nigerian naira, and Russian ruble. In addition to this, the US Binance subsidiary also recently launched to support US customers with its crypto onboarding ever-growing.
Binance has already made some shrewd onboardings of local currencies with Russia being one of their most interested nations, and Nigeria, a global player with regards to Bitcoin, google searches.
There is a lot of talk of the power and impact Bitcoin, and a decent cryptocurrency offering could have in Africa, helping the billions of unbanked people gain financial inclusion. If Zhao is serious about his drive to make crypto globally inclusive, Africa could be at the heart of this growth.
Already there are indications from other tech moguls that Africa is ripe for Fintech revolution as Twitter and Square’s CEO, Jack Dorsey, has made some big waves in the African FinTech space already.