Binance added that it will continue to make direct purchases from markets and utilize OTC trading channels to fill the missing cryptocurrencies.
Furthermore, according to the latest reserve data as of October 28, it was stated that this corresponds to approximately 2.1% of their total assets of $171 billion.
Binance also stated that withdrawal volumes, which peaked in the initial hours, have decreased over time, “stabilizing as expected. Deposit volumes, however, have remained at a significant level.”
Binance Adds Withdrawal Support for 28 Currencies!
Binance recently announced that it has expanded its fiat currency withdrawal options, now supporting withdrawals in 28 different currencies.
With the new announcement, users will be able to withdraw funds in numerous currencies, including US Dollars (USD), Euros (EUR), Japanese Yen (JPY), Swiss Francs (CHF), UAE Dirhams (AED), Brazilian Reals (BRL), and Mexican Pesos (MXN).
Binance supports 28 fiat currencies, including USD, AED, VND, PHP, and IDR: “USD, AED, VND, PHP, IDR, JPY, VES, BRL, MXN, ARS, BHD, KZT, EUR, CHF, CZK, HUF, KWD, PLN, RON, SEK, CDF, KES, SLE, UGX, XAF, XOF, ZMW, and KGS.”
This step is expected to make it easier for Binance users to convert their cryptocurrency assets into local currencies and transfer them outside the platform, expanding the exchange’s global fiat currency reach.
*This is not investment advice.
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