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Binance Now Accepts Fiat Payments Through Alipay and WeChat

Alo Kingsley   Oct 10, 2019 12:13 2 Min Read

Binance, an Asian based cryptocurrency exchange is undoubtedly one of the biggest cryptocurrency exchanges available in the cryptosphere today. Its centralized exchange operations are backed by technologies that have not only made it a go-to trading platform but has also built trust in terms of ease of use.

 

In light of advancing the company's market outreach, Binance CEO Changpeng Zhao confirmed on the 9th of October in a tweet that Binance now accepts fiat payment through Alipay and WeChat Pay.

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Alipay is a fast, safe and easy online payment platform that is widely used by online retailers to store up funds for use. The platform has a 100% reimbursement on unauthorized transactions and has a 90 days payment protection.

 

WeChat Pay is an innovative messaging platform and a Chinese multi-purpose messaging, social media and mobile payment app developed by Tencent.

 

The usage of these two online payment solution systems in accepting fiat money to exchange cryptocurrency and general use on the Binance platform is an applauded market advancement strategy that will engender the growth and acceptance of cryptocurrencies.

 

Binance has a viable product expansion drive evident in its announcement on October 7th of the launch of the 8th phase of its lending products. The subscription for this lending product will be available from 10th October to 10 November.

 

The acceptance of fiat currencies through Alipay and WeChat should not be construed as working with Alipay and WeChat as clarified by Zhao. This new offering is available only to Android users active for at least 30 days while the support for IOS devices will be launched subsequently.

 

 

Image via Shutterstock

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