Binance has stayed ahead of the curve in recent months with plans to work with banks. It also wants to introduce fiat trading pairs. It is something that is sure to make a big impact on the market if implemented.
Investors typically have to buy high cap coins like Bitcoin or Ethereum on exchanges like Coinbase. Later they withdraw funds to other exchanges in order to buy altcoins. So, all of which costs time and money in the fast-paced world of crypto trading. The fiat trading pair option would open up the market to many new investors put off by the inaccessibility of the current system.
Binance has shown itself to be a forward-thinking company with plans for long-term growth. It is evident from the recent announcement of their plans to move to Malta to escape regulatory pressure in Japan. They are joined by Bitfinex which is relocating from Asia to Switzerland to enjoy more crypto-friendly regulation.
Binance is working with banks and exploring fiat trading options. So, they corrected claims earlier today that they will be allowing users to buy digital assets with US dollars.
This is contradictory to multiple articles and reports from various media outlets and Twitter accounts that flooded the crypto news space on Friday, which may well have caused an upward trend in a number of altcoins.
While plans for fiat pairs may be in the pipeline, there are no plans at the moment to include USD. The market has seen a significant rally over the last 24 hours, continuing an upward trend that emerged over the last two weeks, with Ripple and Bitcoin Cash both seeing an increase of over 15 percent.