Cryptobeurs Binance has plans to, within a month, a new feature on their platform to add. It’s going to be the over-the-counter (OTC) trading, with the addition of a gateway for a fiat currency.
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Binance OVER the counter market
The co-founder and marketingbaas Hey, We did this in Shanghai Blockchain Week. The cryptobeurs a fiat-on-ramp for the Chinese yuan.
He added that this is part of a larger plan. Binance in the coming months to have more time to spend on the entry into the Chinese market. In addition to the exchange of one payment service with which users from 170 countries, cryptocurrencies can be purchased with fiat money. This will have to do it all in Binance.com are going to happen.
An OTC trade is a trade made between two parties, without the intervention of an exchange, or a book. It is the mass of the invisible exchanges of currency, and it also does not have an effect on the price. For parties with large amounts of coins (or of the parties, in which anonymity is very important, this is a very welcome service.
The OVER the counter market of fiat and into crypto is a delicate matter for the Chinese traders. The local authorities are not a big fan of this type of practice. They are trying to expand direct contacts with the banks and the fiat of deposits is prevented. This privacy policy is part of the ban at the ICO in september 2017.
China and cryptohandel
Other well-known Chinese exchanges such as Huobi and OKCoin have been moved abroad. They are from different places in the computer-to-cryptohandel it. They have been market makers in the OTC market, on their platforms, in order to help users to cryptovaluta to buy and sell Chinese yen.
Binance of the earth and on and on. The OVER-the-counter service, that is, the link between the real economy and the mainstream financial world is getting smaller and smaller. At the beginning of this month, they also announced that they are testing it, do with sandboxes for the crypto-currency futures.
Binance build by
Last week, a stablecoin launched the Binance USD. The value of this currency is tied to the Us dollar. This Binance drugs has received approval from the New York Department of Financial Services (NYDFS).
Yesterday (september 18th ed.). it is the American version of the cryptobeurs has been launched. Binance US and is specifically designed for customers in the United States of america. The range is very small, with just seven coins. Over the past few years, you can Binance is also available for lending. You can use your coins to take advantage of the lendingplatform which can then be used as a rate to get it.
Source:: Coindesk
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