Binance News Update: OTC Trading Portal, Fiat On-ramp for S.A Rand and Flexible Deposits for LTC & TRX

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In brief:

  • The team at Binance has made 3 major announcements in less than 24 hours. 
  • Firstly, Binance launched a new Fiat on-ramp for the South African Rand (ZAR). 
  • Secondly, the team launched a new OTC trading portal. 
  • Thirdly, flexible deposits are now available for Litecoin (LTC) and Tron (TRX).

The last 24 hours have been an eventful period in both the crypto markets and at the popular exchange of Binance. To begin with, the crypto market capitalization has gained approximately $10 Billion, rising from $175 Billion to $186 Billion in the same time period. Bitcoin (BTC) is currently trading at $6,655 after bouncing off the $6,200 support zone. With respect to the crypto exchange of Binance, the team has consistently made valuable additions to the products and services offered by the platform.

Fiat On-ramp for the S. African Rand (ZAR)

Firstly, the team has announced that the platform now supports the transfer of Rands (ZAR) via bank transfer (EFT). This will enhance how users from South Africa deposit fiat on the platform. Additionally, the exchange has added 5 trading pairs denominated in the ZAR.

  • BTC/ZAR
  • BNB/ZAR
  • ETH/ZAR
  • USDT/ZAR
  • BUSD/ZAR

Deposits of ZAR are available with immediate effect. However, withdrawals will be active from 9th April, 6am (UTC + 2).

New OTC Trading Portal

Secondly, the team has announced the launch of an OTC trading portal. The service is live with users having the opportunity to receive a request for quotation (RFQ) for trades that are quickly settled directly to their Binance accounts.

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However, the minimum trade size is the equivalent of 10,000 USDT. 25 digital assets are currently supported with users having to complete level 2 KYC verification.

TRX and LTC Added to Flexible Deposits

Thirdly, the exchange has added Tron (TRX) and Litecoin (LTC) to the list of supported assets on flexible deposits. This is a value-added service for Binance users who hold idle assets on the platform. Such funds can be lent out to users and the owners earn interest as a result.

Slight Price Increment of Binance Coin (BNB)

As earlier foreshadowed, the price of BNB in the crypto markets has experienced a huge boost from a recent low of $12. It is now valued at $12.77 and looks set to keep moving up as the day progresses.

(Feature image courtesy of Roman Kraft  on Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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