Major cryptocurrency exchange Binance announced that it opened deposits for fiat currency Nigerian Naira (NGN) on Oct. 24.

Binance adds three new NGN trading pairs

Per the announcement, NGN deposits will be processed by online payments processor Flutterwave and the exchange is also adding three new trading pairs: USD/NGN, Binance Coin/NGN and Bitcoin/NGN.

To promote the use of the newly supported currency on the firm’s trading platform, Binance made NGN deposits temporarily free up to 36,000 NGN (about $100) starting on Oct. 24.

For ineligible deposits, the fees on NGN will be set at 1.4%. The maximum allowed deposit is 430,000 NGN ($1,191), while the minimum is 150 NGN ($0.42).

Interestingly, Google Trends shows that the African country has the most interest in the subject. Binance founder and CEO Changpeng Zhao commented in a tweet:

“This is the first fiat trading pair on [Binance.] You know what it happens next, right? First leads to more…”

Read full article here: CoinTelegraph