Binance launches P2P service in China

Posted 09 October, 2019

Binance, the leading cryptocurrency exchange launched a new peer-to-peer (P2P) cryptocurrency trading service in China. The technology assumes that transactions between users will occur without the participation of the exchange. Adding new payment channels will allow Binance to enter the P2P trading space, expanding the capabilities of users from China to purchase BTC, ETH and Tethe stablecoins (USDT).

“P2P Trading, starting with China. Most of CT probably can't use it yet, but 1.4 billion people can. We will expand the service to other regions soon,” tweeted Binance CEO Changpeng Zhao

After the announcement of the launch of the service, the coin of the Binance Coin exchange went up by 9%. At the moment, the rate is $17.37. 

It’s currently only available on the Binance Android app, an iOS and desktop version will be rolled out soon.

Binance is gradually expanding the geography of its services in the United States and abroad. Exchange exchangers already operate in Singapore, Uganda, and Jersey. In the near future, it is planned to launch platforms in Argentina, Bermuda and Turkey.

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