Binance, a global cryptocurrency exchange, has added the Vietnamese currency dong (VND) to its peer-to-peer (P2P) trading platform, the company said Monday in a press release.
The move allows the platform’s users to buy and sell Bitcoin, Tether, Ethereum and Binance Coin through the paltform.
CEO Changpeng Zhao said, “Binance is committed to providing our global users with more convenient fiat gateways and easy access to cryptocurrency, and our P2P service aims to lower the barriers to entry to the crypto world.”
“We are pleased to introduce fiat-to-crypto P2P trading services to Vietnamese users to flexibly trade cryptocurrency at low costs,” he added.
VND is considered the second fiat currency listed on Binance’s platform after Chinese yuan that was added in October 2019.
According to the paper, the platform is only available in China and Vietnam, but the firm will expand in 2020 to add other countries around the world.
The Vietnamese government is still preparing the crypto regulations. However, it had earlier banned the import of mining hardware and prevented domestic firms from carrying out crypto business.
“Vietnam has enormous economic growth potential, a vibrant entrepreneurship landscape, and wide cryptocurrency acceptance, making it the next global blockchain hub,” said Zhao.
“We look forward to expanding our services for the local community and supporting the growth of the Vietnamese blockchain ecosystem,” he noted.