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Global cryptocurrency exchange Binance has enabled a feature that allows users in the Philippines to transfer their cryptocurrency holdings directly to their bank account, the company recently announced.
With this new feature, Binance users in the Philippines can transfer their cryptocurrency holdings to their bank accounts and have them arrive in its equivalent in Philippine pesos.
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The feature is also available in India, Hong Kong, Ghana, Vietnam, Pakistan, and Bangladesh.
Users claim that they must use the Binance website to use the feature as it is not yet available on mobile (at the time this article is published). (But another person said the user must click “Binance Pay” then select “Send Cash.”)
Screenshot from mobile:
Binance recently organized a meetup in Cebu City, Philippines. The company’s general manager Kenneth Stern discussed Binance’s milestones last year and introduced ongoing programs.
Last year, Binance CEO Changpeng Zhao announced that the company intends to secure virtual asset services provider (VASP) license as well as Electronic Money (EMI) license.
This is a developing story. Please check back for updates.
This article is published on BitPinas: Binance Now Allows You to Transfer Crypto to Your Bank in the Philippines
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.