In an announcement this morning, Binance P2P added support for 58 payment methods, including MPESA in Kenya.
In July, we mentioned that Binance was testing MPESA payments for Kenyan users at the time. A month after that report, Binance has officially announced the addition of MPESA for Kenyan users on Binance P2P.
This update means that people living in Kenya can buy or sell BTC, ETH, BNB, USDT, BUSD, and EOS with the Kenyan Shilling directly via MPESA.
Binance P2P is the peer-to-peer product of the Binance ecosystem. It connects buyers and sellers directly, removing the limits that exist with regular exchanges. P2P platforms allow users to choose from different traders, asset prices, and payment methods.
Kenya joins Nigeria as a target market for Binance P2P in Africa. Prior to the announcement, some trading had already started on Binance P2P in Kenya.
To get started with Binance P2P, new users will have to create an account, verify their identity, enable SMS and authentication, and trade. At the time of this update, Binance P2P comes with 0 trading fees.
Binance continues to increase access to the African market through FIAT-gateways that allow direct trading of cryptocurrencies. Recently, Binance added Ugandan Shillings’ direct deposits and withdrawals. Further, direct purchasing in Nigeria and South Africa is also supported on Binance.
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The newly added 58 payment options include PayPal, International Wire (SWIFT), Western Union, Yandex Money, Sberbank, Payeer, M-Pesa Kenya, Monobank, BBVA, BancolombiaS.A, GoPay, OVO, Paytm, IMPS, UPI, PayNow, LinePay, SEPA, Faster Payment System (FPS), Mercantil, Pago Movil, Provincial, Nequi, Banesco Panama, PagSeguro, PicPay, Tinkoff, Alfabank, VTB Bank, Rosbank, Raiffeisenbank, Sovkombank, PUMB, UniCredit, PagSeguro, Mercadopago, MTS Bank, Rocketbank, Privat Bank, Gazprombank, Davivienda S.A, VTB Bank, Nequi, 1+ winner, Otkritie, OTP, Russian Standard Bank, Citibank (Russia), Credit Bank of Moscow, Trust, Gazprombank, Banco de Bogotá, Interac e transfer, Bank Transfer (Venezuela), Bank Transfer (India), Bank Transfer (Argentina), Bank slip and cash deposit to bank.