Binance Adds Its Sixth Fiat-To-Crypto: The Turkish Lira

At the moment the crypto community seems too busy to notice the recent addition of Lira, Turkish fiat currency to enable trading against Bitcoin, Ethereum, and XRP on the Binance web platform. However, it is only possible to buy with the fiat currency.

The selling option is yet to be enabled at press time. The addition of the Lira on Binance was made possible through the partnership with Papara, Turkey-based electronic payments firm.

This development of Fiat-to-Crypto was announced on the official Binance blog on October 24, 2019, following the introduction of Naira which brought a lot of excitement to many Nigerians crypto enthusiasts and traders as reportedon Oct. 25, adding that Binance was able to achieve this through partnering with Flutterwaves, a Nigerian based electronic payment company that aims to help banks and businesses build secure and reliable payment solution for their users.

According to the news, trading pairs include BUSD/NGN, BNB/NGN, and BTC/NGN, which means that users can now use Naira deposits to purchase BUSD, BNB, and BTC.

The Turkish lira is the sixth fiat currency added to Binance’s fiat-to-crypto offering. The first was the Nigerian naira (NGN), followed by the Russian ruble, the European Euro (EUR), the Kazakhstani tenge (KZT), and the Ukrainian hryvnia (UAH).

Image via Shutterstock