Crypto: You can now make deposits in Naira on Binance

The biggest crypto exchange in the world Binance has announced that it now allows Naira deposits on the platform.

This development is coming in after over a year of the feature been disabled on the exchange.

The Nigerian Federal Government back in 2021 issued a statement banning financial institution and banks from accepting any cryptocurrency transactions.

This move lead many crypto exchanges that has presence in Nigeria to disable any Naira deposit features on their platforms.

However, with the current news Binance has made it possible again for Nigerians to transact on its platform without having any issues with the Government.

Read the exchanges statement in regards this development:

Binance is pleased to announce that it has added a fiat gateway for Nigerian Naira (NGN) as part of Binance’s mission to increase the adoption and mainstream accessibility of crypto. Users are now able to deposit and withdraw NGN to and from their Binance wallets,” the company said.