Binance, the world’s largest cryptocurrency exchange, is now allowing users to deposit money in Hong Kong dollars (HKD) as well.
According to the company’s announcement on Monday, Binance began to allow deposits and withdrawals to the Hong Kong dollar without baggage charges. Accordingly, users will be able to deposit Hong Kong dollars to purchase the encryption money.
The deposit was possible through a partnership between Binance and Epay, a company specializing in payment processing. Users can deposit money through SWIFT codes, telegraphic remittance, SEPA, Fasapay, PM, and other e-money deposit and withdrawal services.
By using the measure, Binance is seeking to attract higher liquidity to the cryptocurrency market. As CoinTelegraph reported earlier this month, the Binance Exchange recently added 15 legal call options via Visa and MasterCard on its platform. Before the announcement, the company also introduced Russian ruble pairs on its P2P platform.
Such attempts are interpreted as an attempt by Bienance to attract people to customers, carrying on the enthusiasm of the cryptocurrency market that began early this year. However, the expansion of user base is also negative.
Despite the HKD deposit announcement, Binance still have maintenance to work on
Binance recently said it had a technical problem trying to increase the number of users. According to a report released earlier this month, the problem of poor performance being experienced by Binance users is due to an unexpected surge in traffic on the platform. The report describes the following:
“The difference between the current $10,000 BTC and $10,000 in 2017 is that the number of users has skyrocketed. This exemplifies a strong rebound in the cryptocurrency market, but it is also true that it puts a significant burden on the system.”
Binance CEO Changpeng Zhao said that Bitcoin prices have not yet reflected the block-reward half-life factor due in May. And could therefore go up further. If he’s right, Binance will have much more traffic on its platform in the future.
Recently, Binance joined Kakao Klaytn Governance Council, which rule out the South Korean company’s Blockchain project.