The CEO of Binance, Changpeng Zhao is expressing elation after Coinfera’s Dubai and Istanbul announced the support of BNB. The President of the largest Crypto trading platform by volume retweeted Coinsfera’s announcement of the new service.
Notably, the new over-the-counter Crypto service for BNB could lead to a surge in the adoption of BNB.
Coinfera Offers OTC Crypto Trading Services
Coinfera is a unique Crypto trading platform that proffers over the counter Crypto trading services. Some of the Virtual Assets that the shops accept include Bitcoin, Bitcoin Cash ABC, Ripple, Tron, Ethereum, etc. The shops are located in the United Arab Emirates (UAE), Dubai, and Turkish cities where clients can walk in with cash and leave with Cryptos in their Digital Wallets.
Following the addition of BNB services, clients will be able to buy Tokens in exchange for the United Emirates Dirham (AED), Turkish Lira (TYX), and other Fiat Currencies. On the other hand, clients are also allowed to sell their tokens on the exchange and receive cash.
The Exchange Is Also Airdropping BNB
While introducing the new market pair on its Twitter handle, Coinfera also announced an upcoming airdrop for BNB. This giveaway is expected to only apply to its customers although more details are set to follow. The Tokens that the company is issuing have already been set aside and clients can expect the reward program to kick off any time.
What This Means For BNB
Face-to-face Cryptocurrency trading could be the next business model that pushes Crypto adoption. 10 years after the launch of the first Digital Asset, BTC, Crypto penetration remains low and only a preserve of a few.
However, with the departure from Crypto trading site virtual trading, the market could expect to seem more of skeptical people purchasing Crypto.
Meanwhile, the Arab world is a unique market that is yet to be tapped. Characterized by an extremely wealthy population, the region has an insatiable appetite for investments options and Cryptos have a large market niche in the region.
Additionally, Islamic finance scholars have been publishing journals which reveal that the underlying design is in agreement to Sharia law. This is because Cryptos do not seem to exploit buyers by imposing high-interest rates for transactions. Rather, the prices are ideally driven by pure market forces.
Binance Futures Are Already Live
As Coinfera unveils BNB trading, BNB features are already live having been deployed for investors on 12th September 2019.
As avenues for Binance Coin adoption take shape, BNB/USD is bearish having shed off 2.74% in the last 24 hours as investors are yet to react. At a market cap of $3,151,836,011, it is the 8th largest Crypto and Coinfera’s new support could lead to a stronger Binance Coin.