Binance CEO Confirms Chinese Crypto-Fiat On-ramps

Binance CEO Confirms Chinese Crypto-Fiat On-ramps

 

Despite a crypto ban in China, citizens are still hungry for digital assets and companies around the world are seeking ways to facilitate trading for the burgeoning population. One of the world’s largest exchanges has just confirmed new fiat on-ramps for two of China’s largest ecommerce and social media payments platforms. Buy Crypto With WeChat Pay and Alipay on Binance

For the past two years buying Bitcoin in China has been a tricky business. With the Beijing blockade, traders have resorted to OTC platforms and peer to peer trading using chat groups. The regime even went to the extreme of trying to ban these, but that has not quashed the hunger for crypto in China.

The world’s top exchange just confirmed that is now accepting fiat with Alipay and WeChat Pay, two of China’s largest online payments platforms. “Is #Binance now accepting fiat on-ramp with #Alipay and #Wechat pay? Exciting news… would love for someone to confirm. @cz_binance” the AliPay and WeChat Pay integration could have a bigger effect on the cryptocurrency sector than Bakkt which had no real impact on crypto markets.

Alipay has a billion users worldwide according to the official international website . It needs little more than that to reiterate how big this could be. WeChat Pay is not far behind with an estimated 900 million users so Binance has just provided a fiat on-ramp for almost a third of the planet.

Since most people in China use at least one of these platforms they will all have […]