The cryptocurrency exchange Binance has launched a P2P (peer-to-peer) trading platform for the Vietnamese dong (VND).
Binance users based in Vietnam can now directly purchase and sell major cryptocurrencies using VND through Binance’s latest version of the P2P mobile app on iOS and Android.
#Binance Adds Peer-to-Peer (P2P) Trading for Vietnamese Dong $VND 🇻🇳 "We are pleased to introduce fiat-to-crypto P2P trading services to Vietnamese users to flexibly trade #cryptocurrency at low costs." – @cz_binance https://t.co/PFEMztuWuB — Binance (@binance) January 21, 2020
On Jan. 20 a press release was shared by Binance listing the four supported cryptocurrencies:
Binance Rapid Attempt On Rolling Out Global Fiat Onramps
While Binance has been actively rolling out multiple global fiat onramps for currencies like Indian rupees and Turkish lira, the Vietnamese dong is the second fiat currency added on Binance’s P2P trading platform after Chinese yuan (CNY).
As Binance P2P is available only in China and Vietnam to date, the service will be gradually expanded to add more countries over the course of 2020, the press release notes.
Binance CEO Changpeng Zhao said in the press release:
“Binance is committed to providing our global users with more convenient fiat gateways and easy access to cryptocurrency, and our P2P service aims to lower the barriers to entry to the crypto world. We are pleased to introduce fiat-to-crypto P2P trading services to Vietnamese users to flexibly trade cryptocurrency at low costs.”
Meanwhile, Vietnam is still working on cryptocurrency regulation. As of late March 2019, there was no legal framework for cryptocurrencies in Vietnam.