Major cryptocurrency exchange Binance has announced the launch of its Peer-to-Peer (P2P) Merchant Program, a fiat currency trading platform for its users.
On Jan. 21 a press release by the crypto exchange stated that the demand of global users and a need for higher liquidity have urged for the P2P creation.
#Binance Launches Global P2P Merchant Programhttps://t.co/H1HnTaPzRb pic.twitter.com/vpb6rOECRJ — Binance (@binance) January 21, 2020
Data from Coin360 suggest that Binance has experienced over a 30% growth in trading volume over the past month with average monthly traffic of over 18 million users. Merchants can earn money when they post fiat currency trading advertisements through their iOS and Android enabled platform. Moreover, the exchange provides users with support while there are no transaction fees.
Binance CEO Changpeng Zhao said:
“In the past quarter, there has been increasing growth in trading volumes on Binance P2P platform, and we have constantly received requests for more fiat-to-crypto access from our global community. To meet the growing users demand, we are seeking credible merchants for Binance P2P trading platform globally.”
<img width="1920" height="1200" src="https://i0.wp.com/www.cryptonewspoint.com/wp-content/uploads/2020/01/7th-November-7-e1573137628505.jpg?fit=1024%2C640&ssl=1" alt="" class="wp-image-8834 lazyload" />
Earlier Binance.US released its app with the launch of its P2P trading platform in October 2019. At that time merchants were joined strictly through invitation and referrals. Now, merchants can join through open enrollment. The quality of user experience is reportedly controlled through an “elimination mechanism.” According to Binance, promotional activities will become available to users in the future.
Source: Cointelegraph