Binance, one of the world’s leading blockchain ecosystem and cryptocurrency infrastructure providers, has today announced that it has added a fiat gateway for the South African Rand as it expands its product offerings and bolsters its local presence in the region.

This development will enable South African users to make fast, secure deposits via Instant EFT on the Binance platform.

Users are now able to deposit South African Rands (ZAR) into their Binance wallet instantly and buy crypto, providing a new and competitive fiat gateway for South Africa. They will also be able to convert ZAR into BTC, BUSD, ETH, USDT and BNB.

“Our goal at Binance has always been to drive crypto adoption and promote financial accessibility. We are thrilled to be taking this next step in making access to digital assets more effortless for South Africans,” said Hannes Wessels, newly appointed country Lead for Binance in South Africa.

Binance launched in July 2017 as a crypto-to-crypto exchange and within six months, became the world’s largest crypto exchange.

Today, Binance is a global blockchain ecosystem spanning across trading services, infrastructure solutions, educational resources, research, social good and charitable programs, investment and incubation initiatives, and more.

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