Binance has expanded its network capacities by launching a new fiat gateway against the Hong Kong Dollar (HKD). The crypto exchange has partnered with Epay to offer deposits and withdrawals of HKD allowing users to buy and sell cryptocurrency with the HKD directly through the exchange’s one-click buy/sell service.
Binance already supports euros and pounds sterling through Epay, a payments provider founded in Hong Kong in 2014. The one-click buy/sell allows users to buy and sell digital currencies on Binance more conveniently and quickly without charts or any complex order types. It further provides users with real-time price data to directly execute their trades.
The latest addition is something of a coup for the exchange because banks in the jurisdiction are notoriously averse to offering accounts to cryptocurrency companies.
Though Binance began as a crypto-to-crypto exchange, the firm has been actively rolling out fiat on-ramps in recent times, to make buying and selling easier for crypto investors; in a push to serve local markets globally.
Earlier in February 2020, Binance added support for 15 fiat currencies, including the Swiss franc, Korean won, Australian dollar, South African rand and a others through a partnership with Israeli payments provider Simplex. The exchange has previously added the national currencies of nations such as Russia, Ukraine, Nigeria and India.