Eyeing African Market, Binance Adds Nigerian Fiat-to-Crypto Gateway

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Binance has added a fiat-to-crypto gateway for Nigeria's Niara, the company said.

Facilitated by payments network Flutterwave, the addition starts a new phase of Binance adding sub-Saharan fiat pairs, the company said in a statement.

In "The near future" the high-volume global exchange will also introduce gateways for South Africa's Rand and Kenya's Shilling, Binance said.

At launch, Binance limited the Nigerian trading pairs to BUSD/NGN, BNB/NGN and BTC/NGN. Investors can deposit between 150 NGN and 430,000 NGN for a 1.4% fee, Binance said in a blog post.

Binance said last month that it planned to add fiat-to-crypto OTC trading.

Binance did not respond to CoinDesk's request for further comment.

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