A press release published on January 21 confirms that Binance’s peer-to-peer (P2P) Merchant Program is now open to all interested merchants. Notably, the service first went live in October 2019 to selected users.
According to the CEO of Binance, Changpeng Zhao, Binance P2P platform had witnessed a steady rise in the trading volumes. Furthermore, he confirmed that the company is being bombarded by global customers requesting for additional fiat-to-crypto gateways. In response to the ever-growing demand and to be able to provide higher liquidity, Binance decided to widen its search for merchants who would support the program.
Notably, merchants can earn profits by offering fiat currency payment solutions. There are no transaction fees, and they can also get Binance’s professional service support for free. Furthermore, merchants would be able to take advantage of several promotional activities lined up in the future.
In the initial release, Binance sent out strict invitations to selected merchants intending to protect the users’ interest. Then, they began accepting additional participants through a referral program. With this global launch, the exchange will employ an elimination mechanism to maintain quality user experience and to safeguard the interests of existing merchants.
This week, Binance also announced the listing of Vietnamese Dong (VND) on its peer-to-peer trading platform. Vietnam-based users can now trade Bitcoin (BTC), Tether (USDT), Ether (ETH), and Binance Coin (BNB) using VND.