News flooded the internet amidst the market boom, that the world’s largest exchange, Binance is adding “Fiat to Crypto exchange” on their platform. This news was welcomed by the crypto community, which saw an increase in the trading volume at Binance.
But this was all fake news. In his latest tweet, Binance CEO Changpeng Zhao clarified that Binance has no plans to “Fiat to Crypto” in the short term.
Binance is an exchange which has no fixed location. Last month, they relocated from Japan to Malta due to exchange regulations in Japan. Due to not having a fixed location, it will be difficult for them to get “Fiat to crypto exchange”. And this will be the case with many crypto currency exchanges.
While we can't predict the future, others keep attempting it on us. Both "news" are not accurate. We are working with banks (to potentially support fiat), but no plans for USD in the short term. No xvg or xpr involved. Be careful around predictive "crystal ball" news.
— CZ (@cz_binance) April 20, 2018
As mentioned by Changpeng Zhao, there will be a lot of predictive news in the market so always wait for the confirmation from the main source or a trusted news source.
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