Binance Crypto Exchange Adds Hong Kong Dollars Crypto-Fiat On-Ramp

Binance Crypto Exchange Adds Hong Kong Dollars Crypto-Fiat On-Ramp

Binance crypto exchange has announced the addition of the Hong Kong dollar fiat to crypto on-ramp on its platform via the Epay service. Hong Kong residents can now easily buy and sell supported cryptos with the HKD through Binance’s one-click buy/sell service, according to reports on February 24, 2020.

Binance Partner Epay for Crypto-Fiat On-Ramp 

In a bid to circumvent the harsh policies of local traditional financial institutions and enable crypto traders in Hong Kong to easily buy and sell Bitcoin (BTC) and other cryptocurrencies with the Hong Kong dollar (HKD), Changpeng Zhao’s Binance crypto exchange has joined forces with Epay, a Hong Kong-based payments platform created in 2014.

With the new service, Hong Kong-based Binancians will be able to deposit the HKD into their account and purchase crypto using the Binance one-click buy/sell service.

For those who are unaware, the Binance one-click buy/sell service makes it possible for users of the platform to purchase or sell digital assets in a superfast way, with real-time price data without having to bother about charts or complex order types.

Actively Accelerating Global Crypto Adoption 

Binance says:

One-click Buy/Sell allows users to buy and sell digital currency more conveniently and quickly without charts or complex order types, while also providing users with real-time price data to directly execute their trades.

In addition to the new HKD, Epay also supports EUR and GBP fiat currencies, and users can deposit and withdraw via a number of channels including Wire Transfer, SWIFT CODE, SEPA, Fasapay, and more.

Though Binance initially started out as a crypto-to-crypto exchange, the firm has been actively rolling out fiat on-ramps in recent times, to make life easier for crypto investors.

As reported in November 2019, Changpeng Zhao, CEO of Binance made it clear that the exchange’s goal is to add support for at least 180 fiat currencies before the end of 2020.

Earlier in February 2020, Binance added support for 15  fiat currencies, including the Swiss franc, Korean won, Australian dollar, South African rand and a host of others.

At press time, the price of Binance coin sits at $22.61, with a market cap of $3.52 billion as seen on CoinMarketCap.

Ogwu Osaemezu Emmanuel

Ogwu Osaemezu Emmanuel is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Emmanuel believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.