Binance now accepts deposits, withdrawals in naira

Binance, cryptocurrency trading platform says it now allows naira deposits and withdrawals.

Nigerian traders can now deposit and withdraw the local currency from their Binance Wallets.

The company in a statement on Monday said the decision to add a fiat gateway for the naira is in furtherance of its mission to increase the crypto adoption rate in the country.

The newly-introduced fiat gateway will reduce the challenges often encountered by merchants and investors in Nigeria while trading crypto.

“Binance is pleased to announce that it has added a fiat gateway for Nigerian Naira (NGN) as part of Binance’s mission to increase the adoption and mainstream accessibility of crypto. Users are now able to deposit and withdraw NGN to and from their Binance wallets,” the company said.