Bitcoin Forum

"Opening an office on Malta gives Binance several advantages. One of which is that they can start to set up a fiat-to-crypto trading pair, allowing people to purchase crypto directly with USD or the Euro. Before, people had to purchase Bitcoin from other exchanges and then move it into Binance to purchase altcoins."

Source - http://thebitplex.com/2018/03/23/binance-malta/

Assuming everything goes well, do you think this will kill coinbase or tether? Thoughts?

Think this is great news, of course, it will depend on how fast the transactions will be and so on but definitely a step in the right direction for the future.

I think this is a good news, then binance exchanges will become truly international No1 exchange, because it not only has the largest trading volume, and the exchange to support the legal currency prepaid recharge.

Im not sure if it will kill coinbase and other similar services but it will definitely make buying cryptos very easy for the common man and we will see mass adoption of crypto currencies in coming years.

binance keeps moving  and innovating different ways for crypto acceptance,there approach to crypto makes them a platform to watch out for. nice move ! this diversification might up there stocks.

It's a great news and I am thinking Binance, as one of the leading "players" in this sphere, is now doing important steps that the other exchanges will have to do in the future anyway if they want to have customers and remain in demand.

Pretty great, should help people who are new to Crypto.

The best thing that comes out of this update is that all crypto / fiat trading will be less connected with Tether and all their problems will stop creating so much FUD around the markets. What's about the other things  then it is not yet clear how it will work. I really hope that they won't  force users to pass through several verification tear and make users print and sign their papers (as it works on Binance). It will be also a great thing if they allow funding / withraw funds via anything excapt bank transfers.

If they can do instant transfers then Coinbase will be in serious troubles. The thing is, even though the news sound bullish, Malta has a bit of a bad reputation (corruption and laundering), this move could potentially hurt the cryptocurrency credibility that the market needs. And It'll be interesting to see if the US bank allow their customers to make transfer on Binance (given how strict the US regulations are, and Malta being a tax haven).

This is great!

So they will support SEPA withdraws? I hate Kraken and their customer support and I will gladly move completely to Binance!

That's very good news. But I'm wondering what restrictions will apply to accounts from different countries. If these restrictions are reduced to a minimum, I am sure that this will make the exchange one of the most popular in the world and significantly increase the volume of trading. I hope it's not fake.

If true, it is a kind of encryption admit, because that way more and more people can buy directly to the encrypted, without the need to convert them into usdt, I always think it's so trouble.

The thought of purchasing crypto directly with USD maybe good, but we don't know yet how would they implement it. If you're willing to use it regardless of the process, then it's okay, else you'll wait and see first. Anyway, we don't know when is "soon" so...

That will give a lot of good food for the conspiracy theory adepts. Malta.

Great news! Way to go for Binance on keeps on improving and making our lives easier. This will definitely help up us a lot to remove or lessen the fees whenever we purchase crypto to other exchange and transfer to the other. It might have an issue since it is fiat that is being regulated by government but still this will work for us.  Hope to see this soon.

This could cause people to leave coinbase and use binance to convert crypto to usd because coinbase has already send info to the IRS for some traders. But I expect large transaction/transfer fees when you convert to USD and transfer money out to a bank account. So in the future, if people want to sell their coins for usd and don't want their info going to the IRS, they will use Binance. And people who don't want to pay huge fees will continue to use coinbase.  

If this is the case, I believe binance's trading volume will become very scary, and I think it is really possible to kill coinbase and tether.
After all, the strength of binance is still very powerful, and if people can use the fiat who would like to use usdt?

Not sure how complicated the process will be for binance but its a good news anymore, BNB is kinda strengthen these days from this particular news and we hope to see more updates from them.

That is very big news and it will help a lot of user to buy cryptocoins directly from usd.

But this may impact btc as well

I hope this is can be reality soon because i prefer to trade crypto paired with USD. At the moment i trade on Binance only in pair USDT and i also used exchange of gate.io to trade others coins with USDT. But in Binance has more liquidity because the volume bigger.

I agree this is good news.  If having a USD/Crypto pair was a killer then gdax would have killed binance which it did not of course.  the coinbase stronghold will continue for newbies into the foreseeable future. binance has had to halt new registrations several times, so demand is still strong and enough supply for all the major exchanges to benefit and prosper.

I am not sure with this news and maybe it needs time to prove it but I don't think that this will kill coinbase or tether and I hope it could give support for the cryptocurrency. but I think it will make people easier to buy bitcoin because they can buy with USD and Euro which available in their country. and I am sure that this will help for bitcoin to be famous in that country.

Yeah, they will get extended scopes there. Sometimes it takes a little bit time to set up business in new place.But big companies know how to handle it. Killing other exchanges or not, I think it will be good for Binance.

I think it would be much more better if crypto-fiat to further lessen the transaction fees that goes from converting to altcoins-eth-btc.

Would love to have USD/coins pairs! I like to trade USDT pairs on Huobi/ Okex/ Zb now because I can estimate the pricing well. Using BTC/ ETH pairs are confusing sometimes...

And the best part is USD wont drop during dump hehe

I think it a really good thing, if the USD has no conversion fee, like other exchanges but if USD to bitcoin will have a conversion fee, I think this USD to Bitcoin can only be used in buying and withdrawing.
and Tether will still be useful because we only need to pay the trading fee of binance which is very small.

It will be very convenient but how the regulators will react to it to buy directly for the dollar and the Euro,and of course this is the good news from binance.

Nope, because they can't operate with that on US soil anyway.

It's bad for them I believe, they'll just put themselves on the crosshairs of regulators, and would probably get taxed too.

excellent news, that will help the community I believe as Binance is number 1 exchange. I guess we can see some more fiat flawing in crypto markets after this.

This sounds like really good news for crypto in general. Binance is really starting to stand out as a great exchange, and this is the sort of move that will help to bring crypto to the masses. I hope it all goes through as planned.

Awesome news, one step closer to adopting crypto and taking it seriously I think. Hope more platforms do the same! :)

That will be a smart move from Binance and a good news for cryptocurrency. I am pretty sure that Binance will get more traders and will be the king of crypto exchange once that happen. The question is, how much money do they have to backed those fiat currency? Will there be an ESCROW option once they implemented the fiat currency option just like TUSD in bittrex? Got to keep an eye with this update. This is getting more interesting.