Binance Announces Launch of New Fiat On-Ramp for South African Rand (ZAR)
Binance has now enabled a new fiat on-ramp for the South African Rand (ZAR). Binance users will now be able to deposit Rands (ZAR) through bank transfers (EFT). This provides a new competitive fiat gateway for South Africa.
After depositing funds to Binance, users will now be able to buy and sell crypto with five Rand (ZAR) trading pairs: BTC/ZAR, BNB/ZAR, ETH/ZAR, and BUSD/ZAR.
This service will come into action in two phases. Phase one will comprise of Depositing and Trading. The Binance users will be able to deposit Rands (ZAR) into their Binance wallets and will be able to trade them in the five trading pairs as mentioned previously.
Phase two will be for withdrawals that will begin from 9th April 2020 at 06:00:00 am (UTC+2). The Rand (ZAR) fiat withdrawals will be enabled for all Binance users.
Recently, Binance opened trading pairs for BTC/ZAR, ETH/ZAR, BNB/ZAR, BUSD/ZAR, and USDT/ZAR.
Along with this, they started providing P2P services for the Euro (EUR), Ukrainian Hryvnia (UAH) and Malaysian Ringgit (MYR). Binance users are now able to sell and purchase BTC, USDT, ETH, BNB, and BUSD using the three currencies with zero transaction fees on the Binance P2P platform.