Crypto exchange Binance is accepting fiat deposits via two major Chinese payment gateways – WeChat and AliPay.
First disclosed by a twitter user on Wednesday, Binance’s CEO Changpeng Zhao was quick enough to confirm the exchange’s move.
Zhao also detailed that the crypto exchange is not directly working with WeChat and AliPay for the integration of the new payment support.
Move to capture the Chinese market
Binance’s move to add these two companies are justified as both are mammoth in the Chinese market. Messaging giant WeChat has over 1.1 billion of daily active users, per Statista, while the user count for AliPay, the payments arm of Alibaba, surpasses 900 million.
Earlier this year, both AliPay and WeChat sent legal notice to Binance’s competitor Huobi for using their logo at its payments page without taking explicit permission. Read More...