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Binance, the world’s largest cryptocurrency exchange in terms of volume, now supports withdrawal and deposit in the South African Rand currency. According to a blog post from the group, users can now trade the ZAR with Bitcoin, BNB, Ethereum, and other assets on the platform.
The platform integrated the ZAR trading pair today, and banks who support the “Faster Payments Service” will see their user’s currency being available within a half-hour.
To celebrate, Binance is holding a promotion:
“To celebrate the launch, Binance is holding a trading promotion for all ZAR trading pairs (BTC/ZAR, BNB/ZAR, ETH/ZAR, BUSD/ZAR, and USDT/ZAR). There is a $1,000 prize pool to be shared between ten lucky users who trade ZAR on Binance.com during the promotion period.”
Anyone who trades in ZAR will automatically be entered into the draw, which will be provided in Bitcoin. This will run until May 20, 12:00 AM GMT. Prizes will then be distributed on the 25th.
Recently, Binance and BitPay partnered to push Binance’s BUSD stablecoin to more users, as InsideBitcoins has previously reported on. Users on the platform are able to spend BUSD on any payments made within the network.
The goal, of course, is to push stablecoins throughout the rest of the world. These fiat-tied digital assets are ideal for bringing in new users.
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