Exchange Binance this Friday announced the addition of support 15 Fiat currencies as part of a plan to expand the availability of digital assets.
Integration was carried out with the mediation of the Israeli service Simplex. This Binance added support for a new Fiat currency and has been extended to deposits previously available, including the Russian ruble, Swiss franc, Korean won, Australian dollar, Polish zloty and South African Rand.
All presented Fiat currency will be exchanged for basic crypto-assets, such as bitcoin, Ethereum, XRP, and partially between them.
According to CoinDesk, on Fiat currency accounted for a small proportion in the total trading volume Binance. Average trading volume for 30 days was $3.55 billion, of which pair up with Fiat were $3.5 million, the vast majority of this falls on the US dollar.
Binance began to cooperate with the Simplex in January 2019, allowing users to purchase cryptocurrency with credit cards in euros, us and canadian dollars, and Japanese yen.
The standard Commission for transaction via the Simplex is large enough: it is 7% and can vary depending on the size of the payment. Binance claims that the user’s use of the same currency that is offered by the service, it will not incur a fee of 2-3% conversion, which is used in some other payment methods.
Also today, support for the Russian ruble via the Simplex has bobvila exchange KuCoin.