Binance just recently started accepting fiat currencies through the online payment service provider Alipay as well as the mobile payment app WeChat. This was confirmed by the CEO of Binance Changpeng Zhao in a tweet October 9.
The CEO quickly clarified that the cryptocurrency exchange is not directly working with these two payment providers as other users will still be able to utilize them for their own transactions.
The service will be available to android users who currently have Binance accounts and have registered accounts that have been active for at least 30 days. Apple iPhones will be reported shortly thereafter.
The Binance Product Expansion
On October 7 Binance launched their 8th phase of its lending platform where subscribers will be accepted on a first-come first serve basis. It begins on October 10 – November 10. Interest accumulated during this period will be paid immediately after the term matures.
In the same month, Binance is also introducing their dedicated taking platform which allows users to deposit tokens and earn staking rewards without worrying about setting up their own nodes to fulfill the minimum time links for stake amounts.
The cryptocurrency exchange is clearly showcasing its wide range of products and intention for expansion to other more profound investment vehicles over the last few months.