Binance SG Add’s XRP & 1.1 Billion Chinese Citizens Can Swap Yuan for Crypto

binance deal allows access to 2 billion in china

While Binance Singapore launched in April this year users were underwhelmed to find they could only purchase Bitcoin at fixed prices.

Recently, however, it was announced they are launching the option to buy XRP with local Singapore dollars allowing access to the revolutionary digital asset.

We just opened trading for XRP/SGD trading pair on Binance.Start depositing XRP in preparation for trading, we will open trading for XRP/SGD trading pair at 09/10/2019 14:30

Binance SG

BINANCE SG – 6 million in Singapore can for the first time buy XRP with local fiat currency

While this has not made huge headlines it still opens up a brand new region to XRP trading, a tech-savvy region that is home to 6 million people. 

From the outset, Singapore has been rather supportive of crypto but very little has been happening on the crypto front until recently.

Added to this, Binance has been chipping away at the strictest of all countries China and finally made some headway with Bitcoin/Yuan trades.

Binance has opened up 1.1 Billion WeChat users to swap fiat for BTC, XRP/Yuan is not yet available but as CZ is such a big fan, surely it’s a matter of time.

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.

CoinDesk

Originally Binance announced that users could also use Alipay but the Chinese version of Amazon was quick to announce that was NOT the case.

However, the WeChat network boasts 1.1 billion active users on its multi-purpose platform who use their WeChat app for most mobile payments.

A little Sunday fun below as Elon Musk tries to get some sense out of the CEO of Alipay and Alibaba who just thinks crypto bad mmmkay… 

P. Nelson

An experienced trader in the crypto space & stock markets since 2015, blogger of all things XRP Ripple & Cryptocurrency. Wrote a book at age 22, sadly missed out on the Pulitzer Prize. Narrowly.