Major cryptocurrency exchange, Binance has announced the launch of a peer-to-peer (P2P) merchant program, a customer-friendly fiat currency trading platform.
The platform is open to all members of Binance and is aimed towards providing top-notch services to P2P users. As well as ensuring unequaled liquidity at all times. The exchange made this announcement via an official blog post.
Thus, Binance P2P merchants will earn dividends and create fiat payment solutions. Also, they will pay minimal transaction fees as well as enjoy professional support from the platform.
The company’s CEO, Changpeng Zhao pointed out that request for more fiat-to-crypto has increased dramatically since the launch of its P2P trading service in October.
He said, “In the past quarter, there has been increasing growth in trading volumes on the Binance P2P platform, and we have constantly received requests for more fiat-to-crypto access from our global community.”
Further adding that the launch of this global P2P merchant platform is the answer to these requests.
Invitation to merchants worldwide
The major cryptocurrency exchange through an official blogpost is inviting merchants worldwide to participate in its global P2P Merchant Program.
The official blog post reads: “As we strive to provide better services and better liquidity for P2P users, Binance is now looking for P2P merchants globally.”
Notably, this is the also first-time the exchange is giving out an open invitation to merchants for its P2P trading platform. Before this, joining the P2P trading platform was strictly by invitation or a referral program.
The exchange, however, added that it will deploy an elimination mechanism. Ensuring that only outstanding merchants remain on the platform.
Users can apply as a merchant on the Binance P2P trading platform via this link. Although, all applications will be screened and successful applicants will be contacted.
Binance adds Vietnamese Dong
This week, the Binance P2P trading platform announced support for the Vietnamese Dong (VND).
The exchange platform has earlier included support for Chinese Yuan in 2019, and promise to add more countries.
Users will also be able to trade BTC, ETH, USDT, and BNB for VND. Binance also recently added support for the Polish Zloty (PLN) and the Swedish Krona (SEK).
Additionally, Binance Zhao reiterated the exchange ambitions to expand fiat-to-crypto access for users in over 180 countries in a bid to achieve its “freedom of money” mission.