Vietnam-based Binance users can now directly purchase and sell major cryptocurrencies using VND through the latest versions of the Binance P2P mobile app on iOS and Android.
The four supported cryptocurrencies include Bitcoin (BTC), Ether (ETH), major stablecoin Tether (USDT) as well as Binance’s native cryptocurrency Binance Coin (BNB), the firm said in a press release shared with Cointelegraph on Jan. 20.
Vietnamese dong is the second fiat currency on Binance’s P2P
While Binance has been actively rolling out multiple global fiat onramps for currencies like Indian rupees and Turkish lira, the Vietnamese dong is the second fiat currency added on Binance’s P2P trading platform after Chinese yuan (CNY). Binance debuted its P2P trading with yuan in October 2019, making China the world’s first jurisdiction to benefit from Binance’s peer-to-peer trading for Bitcoin, Ether and USDT against its fiat currency.
As Binance P2P is available only in China and Vietnam to date, the service will be gradually expanded to add more countries over the course of 2020, the press release notes. Binance CEO Changpeng Zhao said in the press release:
“Binance is committed to providing our global users with more convenient fiat gateways and easy access to cryptocurrency, and our P2P service aims to lower the barriers to entry to the crypto world. We are pleased to introduce fiat-to-crypto P2P trading services to Vietnamese users to flexibly trade cryptocurrency at low costs.”
Additionally, Zhao reiterated Binance’s ambitious plans to expand fiat-to-crypto access on Binance for users in over 180 countries in order to achieve their mission of “freedom of money.”