The world’s largest crypto exchange by trading volume Binace has announced the inclusion of the Hong Kong Dollar gateway on its platform.
This is according to an announcement by the exchange. This is another major expansion feat for the cryptocurrency exchange. The development was facilitated by a partnership between Binance and payment processing firm, Epay. Prior to this time, Binance already operated a euros and pounds gateway in Hong Kong through Epay. And now has announced the inclusion of Hong Kong Dollar.
This announcement has left the entire crypto community elated owing to the fact that banks in the jurisdiction have been quite hostile to crypto exchanges. Hong Kong local Gatecoin exchange closed shop last spring, blaming its decision as a result of unrecovered frozen funds
How it operates
To make use of the service, users need to stock their Binance crypto wallets with HKD. With this, they will be able to engage in the seamless purchase and sale of other cryptocurrencies using HKD. This will be possible through the one-click buy/sell service feature. All HKD transactions will take place at zero-fiat transaction fees through the Epay account. The one-click buy/sell feature simplifies the process involved in digital currency transactions. Ensuring crypto transactions are fast and more convenient for users. While also providing real-time price data to help users directly execute their trades.
Binance is currently on a fiat gateway spree. The exchange has launched several fiat gateways in a bid to serve local markets worldwide. It recently added 15 fiat currencies through a partnership with Isreali payment provider, Simplex. And has added fiat currencies for countries like Nigeria, Russia, Nigeria, Ukraine, and India.
Generally, this is a great achievement and we can only hope for more of such progress in the nearest future.
Founded in Hong Kong in April 2014, Epay is a payment provider with over 306,000 retailer base across 33 countries. The payment processor has a large network of fiat currencies such as EUR, HKD, GBP fiat currencies. It is popularly known as the one-stop global payment solution. And supports wire transfers, SEFA, SWIFT CODE, Fasapay, PM and other crypto deposits and withdrawals.