Fun

Binance Now Accepting Fiat Through Alipay, WeChat

News Feed - 2019-10-10 01:10:34

Binance is now accepting fiat through Alipay and WeChat, opening up the exchange to peer-to-peer (P2P) crypto transactions from China. The move follows a September announcement concerning the exchange’s intention to add over-the-counter (OTC) trade options for an additional fiat on-ramp.


Although an expected development, the move was first disclosed on Twitter and later confirmed by Binance CEO Changpeng Zhao on Wednesday. For now, bitcoin-for-fiat trades are only available. Some confusion by some news outlets. @Binance is not working directly with WeChat or Alipay. However, users are able to use them in P2P transactions for payment.


Still not a small feat. But words/meaning get twisted as they are passed around. https://t.co/uQ8KmD1TQB


— CZ Binance (@cz_binance) October 9, 2019



One of the largest social media apps globally, WeChat currently has over 1.1 billion active users according to Statisa. Payment application Alipay has over 900 million users as well, per the China Daily.


Since the 2017 banning of cryptocurrency exchanges by the People’s Bank of China (PoBC), P2P trading has predominated in China. Earlier this year, CoinDesk reported that P2P exchange Hodl Hodl had reconfigured its security preferences to sidestep China’s Great Firewall.


Binance CEO Changpeng Zhao image via Binance

News Feed

Ethereum Futures Market Shows Renewed Optimism: Is a Break Above $3.5K Near?
Este artículo también está disponible en español. Following weeks of declines, Ethereum (ETH) seems to have begun its recovery, closely tracking Bitcoin’s upward moveme
Canada’s Tiff Macklem Insists ‘Rate Increases Are Warranted,’ Canadian Columnist Says Central Bank’s Governor ‘Needs to Go’
Canada"s Tiff Macklem Insists "Rate Increases Are Warranted," Canadian Columnist Says Central Bank"s Governor "Needs to Go" Canadians have been dealing with rising inflation and th
Central Bank of Brazil Researches Creation of Digital Real
Central Bank of Brazil Researches Creation of Digital Real Fabio Araujo, a representative of the Central Bank of Brazil, talked about the possible development of a Digital Real at
Terra was a ‘house of cards’ — SEC in opening statements for civil trial
Turner Wright5 hours agoTerra was a ‘house of cards’ — SEC in opening statements for civil trialTerraform Labs co-founder Do Kwon remained in Montenegro as the SEC trial kicked off in New York on March 25.4571 Tota
Nestree Introduces NFT Aggregator Beta Service to Help Improve Usability and Overall Performance
Nestree Introduces NFT Aggregator Beta Service to Help Improve Usability and Overall Performance press release PRESS RELEASE. Nestree is a blockchain-based community messenger that
Dogecoin Breaks Above Bullish Daily Pattern – Analyst Sees A Surge To $0.43
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
XRP Price In Motion: Analyst Reveals The Next Major Supports And Resistances
Este artículo también está disponible en español. With the XRP price set to make its next move, crypto analyst Dark Defenderhas revealed the next major support and resist
Bitcoin Skyrockets Above $57K, Recaptures Trillion Dollar Market Cap, Double-Digit Weekly Gains
Bitcoin Skyrockets Above $57K, Recaptures Trillion Dollar Market Cap, Double-Digit Weekly Gains The price of bitcoin continues to climb higher as the crypto asset has captured over
Dogecoin Starts Out February with 23% Crash, What Does Historical Data Point To?
Este artículo también está disponible en español. The Dogecoin price has started out this month with a crash, sparking a bearish sentiment among DOGE investors. This bear
Wolfgang Rückerl4 hours agoHow to improve your Web2 business with blockchainAlthough blockchain has become a mainstream topic in the finance and business worlds for several years now, it’s definitely not too late to j
S9 Resurrection: Higher Bitcoin Prices Allow Miners to Switch Outdated Mining Rigs Back On
S9 Resurrection: Higher Bitcoin Prices Allow Miners to Switch Outdated Mining Rigs Back On With bitcoin prices hovering over a certain handle, a great number of
Filipinos face higher fees after Binance ban
Ezra Reguerra12 hours agoFilipinos face higher fees after Binance banJay Ricky Villarante, the CEO of Moneybees, said that the decision to ban Binance reflects the importance of regulatory compliance and oversight in the