Monday, March 2, 2022

Binance announces its first direct integration with a bank

Binance announces its first direct integration with a bank

Binance will start a collaboration and direct integration partnership with Akbank in turkey. The Akbank will be the first bank to integrate directly with Binance

“Beginning today, users will be able to instantly deposit and withdraw Turkish Lira (TRY) on Binance via desktop and the iOS App with the most competitive fees in Turkey,” announced Binance on twitter.

Provide easy access to cryptocurrencies

Binance is the leading global cryptocurrency exchange in the world by both trading volume and users -as the company claims. It provides trading services and also buying and selling cryptocurrency with fiat money to users in lots of countries around the world.

Changpeng Zhao - known as az CZ - Binance’s CEO, always points out on his company goals to reach more users and provide access to cryptocurrencies for people all over the world. Therefore, the company has done many partnerships with financial institutions and regulatory organizations. Akbank is the latest bank that adds to the ever-growing partners of Binance. As mentioned before, it will be the first direct integration with a traditional bank for Binance.

Akbank’s users in turkey and all over the world will have the opportunity to buy and sell crypto with Turkish Lira. it means more users will be encouraged to use cryptocurrencies in Turkey.

“As part of our mission to continue working on increasing the freedom of money worldwide and notably in a country that is fast-adopting digital assets, we are expanding the available options to lower the barrier to entry,” said CZ in the press release.

Users opinion

Some users stated their doubts about the new partnership between Binance and Akbank in the comment sections of Binance’s tweet. Although some of them believe the first-ever collaboration with a traditional bank will move BNB to the moon, the others think maybe the Turkish government by Erdogan is against that. Perhaps the initiative will shut down soon.

The post Binance announces its first direct integration with a bank appeared first on Crypto Economy.

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