Today, the cryptocurrency exchange Binance Advertise Which – which Binance P2PPeer-to-peer trading marketplace where you can trade cryptocurrencies against your local currency, has added new electronic payment options for Southeast Asian currencies.
- Pay now
- this is
- Touch ‘n Go eWallet
What this means for users is that you will be able to trade cryptocurrencies by receiving funds or sending them via more e-wallets for transactions.
Editor clarification update: As noted in Advertising Page, the aforementioned payment methods are supported as options for peer-to-peer local currency transactions between users only, and Binance does not establish any commercial relationships With these payment service providers.
Disclaimer: Binance (binance.com) is not a stock exchange regulated by the Securities Commission (SC) in Malaysia. Binance.sg is registered with Binance Asia Services Pte. Ltd. (“Binance Asia”), a private limited company incorporated in Singapore (UEN: 201811768M).
Binance It is a central cryptocurrency exchange registered in Malta. Founded before Changpeng Zhao (CEO) in 2017.
Currently, it is the largest cryptocurrency exchange in the world, with a 24-hour trading volume of approximately 674197, or $ 31 billion USD. There are more than 280 coins and 900 trading pairs available on Binance, including a meme coin Popular by Elon Musk, Dogecoin.
Although Binance.com is not a regulated exchange, there are a number of regulated local exchanges that use the Binance brand and technology, including Binance Singapore (binance.sg), Binance.US (binance.us), and Binance Jersey (binance). .je). All of these operate independently and Fully compliant with their local regulations.
But does SC allow that?
My opinion is that SC is more likely to pressure e-wallet companies to cancel or find ways to prevent users from trading cryptocurrencies through their e-wallets, outside of the existing exchanges approved by the SC.
But whether or not this ban can be enforced effectively is debatable, as it is difficult to ascertain the purpose of the transaction via P2P.
On the other hand, Touch ‘n Go eWallet, GrabPay, and other supported e-wallets will likely open access to crypto markets to audiences, including non-bankers, allowing users to easily access the cryptocurrency market.
For multi-currency e-wallets like GrabPay as well, this might make it the preferred option because users can then travel to a country with their bitcoins and trade in a local currency with ease.
We have reached out to the crypto communities for comment on this newly added feature. As of now, some have already echoed the feeling that this would increase the user’s reliance on cryptocurrencies in Southeast Asia.
- You can learn more about this announcement from Binance Here.
- You can read our other articles on cryptocurrency Here.
Featured Image Credit: Vulcan Post