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Binance announces Thai Baht gateway

Rakshitha Narasimhan

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Binance to enable crypto trading directly using THB through bank transfers.
Source: Unsplash

Malta-based cryptocurrency exchange Binance had recently announced its collaboration with Satang Corporation, one of the oldest digital asset exchanges in Thailand, to open Thai Baht (THB) fiat channels. The exchange, in a recent statement, revealed that the users could now buy crypto directly using Thai Baht (THB) through bank transfers.

Explaining the feature, Binance stated,

“To access this service, users can visit the “Buy Crypto” page, select an amount of THB, click next, and then choose Satang.”

Binance CEO Changpeng Zhao  commenting about the developments had earlier stated,

“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.”

CZ had also stated that Binance had plans to provide support for all 180 fiat currencies, this year. In light of this, the exchange also added fiat support for using Visa cards to purchase cryptocurrencies using Swedish kronor and Polish zlote. 

A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.