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Binance Exchange Opens OTC Fiat Desk for Chinese Traders

Published 09/20/2019, 04:22 AM
Updated 09/20/2019, 05:41 AM
 Binance Exchange Opens OTC Fiat Desk for Chinese Traders

Binance re-introduces a form of fiat-to-crypto exchanges to China, years after the country banned the free-for-all exchanges against the Chinese yuan. During Shanghai Blockchain Week, Binance’s co-founder Yi He announced the launch of an OTC desk coming this October.

The decision arrives after Binance already announced the launch of fiat-pegged tokens based on the British pound and the US dollar. Fiat services require additional compliance, and Binance is already performing KYC. This has allowed the Malta-headquartered exchange to offer fiat services through its international Binance.com platform.

China has once again returned as one of the leading markets for di...

This article appeared first on Cryptovest

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