Malta-based digital asset exchange Binance has announced that it will be supporting euro (EUR) trading against six major cryptocurrencies, as part of the global platform’s latest fiat-focused expansion.
According to Binance’s latest blog post, the exchange enabled trading for EUR pairs at 8am on January 3, 2020. Platform users can now trade EUR against Bitcoin (BTC), Ether (ETH), XRP and Binance Coin (BNB).
Binance’s management mentioned that the global exchange will also enable trading against two widely-used stablecoins, which include Tether (USDT) and the platform’s own USD-pegged token, called Binance USD (BUSD).
Binance’s decision to add support for Euro trading has come after it enabled EUR deposits and withdrawals in November of last year. The exchange operator has also enabled similar services for the Russian ruble, Ukrainian hryvnia and Kazakhstani tenge.
Binance provides EUR trading pairs on Binance Jersey, the exchange’s dedicated subsidiary, which was introduced in January 2019.
Euro trading will be available to digital currency traders on the exchange’s main platform, Binance.com. This option is not currently available on Binance US, the exchange’s US-based division.
Binance CEO Changpeng Zhao says that last year was like building the foundations of a house for the exchange.
Zhao noted:
“One of our key goals for 2020 is to bring crypto to the masses. For this, we aim to enable fiat-to-crypto trading for 180+ fiat currencies. We always have a number of strategic acquisition discussions in the works, a couple of them are major and will have a significant impact. We will announce it in due time.”
He added:
“We are further decentralizing ourselves in every way, from our team structure, work locations, operations, product, and services.”
