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3 weeks ago

Eyeing African market, Binance adds a fiat- to – Crypto gateway for Nigeria’s Naira

The company Binance has added a fiat-to-crypto gateway for Nigeria’s Niara (NGN) facilitated by payments network Flutterwave.

The addition starts a new phase of Binance adding sub-Saharan fiat pairs.

According to a statement by the company , adding a fiat to crypto to Nigerian Naira begins a new phase of Binance adding sub-sahara fiat pairs. 

Binance stated that “In the near future the high-volume global exchange will also introduce gateways for South Africa’s Rand (ZAR) and Kenya’s Shilling (KES), 

At launch, Binance limited the Nigerian trading,  pairs to BUSD/NGN, BNB/NGN and BTC/NGN.
In a blog post , Binance said,  Investors can deposit between 150 NGN (about $.40) and 430,000 NGN (about $1,200) for a 1.4% fee, Binance said in a blog post.
They company said last month that it planned to add fiat-to-crypto OTC trading as well.

Though no further comment from Binance as they did not respond for more information.
Credits: Danny Nelson

Florence Anusionwu

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