According to the announcement, the NGN integration allows users in Nigeria to directly buy and sell BTC, ETH, USDT, BNB and BUSD with other users and verified merchants on Binance P2P platform. Users can select the trades listed on P2P platform by the amount and payment methods, and access instant and secure trades with Binance’s crypto escrow service and 24×7 customer support.
Speaking about the new integration, ChangPeng Zhao (CZ), Binance CEO, said:
“We believe that Africa is a blockchain continent. We no longer need to bank the unbanked. We can empower them with cryptocurrency financial services directly. Nigeria is a vibrant innovation hub with great passion for cryptocurrencies.
“We strive to provide the easiest cryptocurrency access and best trading service for the African community, and P2P trading is a more flexible approach, giving users the freedom to choose their payment methods and counterparty in a trade.“
In order to support trading in NGN, Binance has also announced a unique opportunity for users to become P2P Merchants where they can post trade ads and earn money while providing crypto to their communities.
Users who have a reliable source of fiat and cryptocurrencies can apply now to join the program.
Binance’s aggressive fiat on-ramp strategy involves listing a substantial number of fiat in 2020. As CZ said in early January:
“One of our key goals for 2020 is to bring crypto to the masses. For this, we aim to enable fiat-to-crypto trading for 180+ fiat currencies.”