- Binance recently revealed that it is to be working in collaboration with Satang Corporation.
- In a statement, the platform announced that users would now be able to buy cryptocurrency using Thai Baht directly through bank transfers.
One of the biggest crypto trading platforms in the world, Binance recently revealed that it is to be working in collaboration with Satang Corporation. This is in order to open Thai Baht fiat channels. In a statement, the platform announced that users would now be able to buy cryptocurrency using Thai Baht directly through bank transfers.
For those that don’t know, Satang Corporation is one of the oldest digital asset platforms in the nation of Thailand.
Binance said in the statement:
“To access this service, users can visit the “Buy Crypto” page, select an amount of THB, click next, and then choose Satang.”
The CEO of the crypto platform, Changpeng Zhao has commented on the developments in Thailand. He went onto state:
“We believe fiat will co-exist with crypto for a long time to come. More than 99.9% of the global money supply is still in fiat and we need to continue building bridges to enable easier flow into crypto.”
As previously mentioned, Satang Corporation is one of the oldest platforms for crypto trading in Thailand and is typically seen as spearheading the country into the age of blockchain and crypto. This new partnership between Satang Corporation and Binance is looking good for the future of the two companies, as well as the industry.
Binance has said that they are planning to provide support for all fiat currencies (180) in 2020. With this in mind, the platform has included support for utilising visa cards in order to buy cryptocurrencies.
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!