Binance global visibility appears unstoppable after its entry into two key emerging markets. The high profile exchange has entered the India and Indonesia markets after launching Rupee and Rupiah peer-to-peer trades.
In its announcement dated April 14, the platform has enabled users to trade Rupees (INR) and Rupiah (IDR) with other cryptocurrencies. The two countries fiat currencies are already paired with major crypto coins including Bitcoin, Tether, Ether, and the exchange’s native coins.
India’s strategic Binance global visibility plan
Binance has chosen India due to the current crypto atmosphere. The outfit is targeting the subcontinent’s population of over 1.3 billion and has been warming up for the market since it acquired a local crypto exchange, WazirX in November 2019 which offers USDT/INR pairs.
After the Reserve Bank of India (RBI) digital asset trading ban, WazirX turned into a peer-to-peer ecosystem so as not to be caught in the crypto to fiat exchange business by the local authorities.
In February 2019, Binance Academy entered the Indonesian market, Based in Bahasa. This was a soft landing for the giant exchange as the CEO Changpeng Zhao added while breaking the good news. He adds that the two countries are among the promising new markets with high adoption potential and the exchange is giving the user base an easy onboarding option.
Binance global visibility well calculated
Binance global visibility is well packaged and the P2P route to market touches on both retail-to-retail and the consumer. What’s more, it is acting as the largest bridge between the fiat and crypto economies with more than 20 fiat currencies under its wings.
Targeting the emerging global economies, the platform has more than 200 P2p retailers spread across the globe with customized services including no fee on security transactions to boost user profits.
Bringing CoinMarketCap under its wings is also meant to grow their brand. The recent Tezos (XTZ) support and introduction of BTC options in the U.S. market are other moves set to grow the outfit market share globally.
