India’s leading cryptocurrency exchange WazirX will see its P2P mechanism integrated with Binance FIAT gateway, next week, sources revealed today. This will allow millions of Binance users to use WazirX’s award winning and highly liquid P2P engine to trade USDT, on the Binance platform.
According to the announcement, Binance users will soon be able to transfer funds between their Binance/WazirX accounts seamlessly and be able to sign in to WazirX with their Binance accounts. It is worth noting that WazirX was recently acquired by Binance for an undisclosed amount.
The wait’s almost over, deep integration of WazirX P2P coming to millions of @Binance users next week. 🚀 $wrx $bnb
Check out its sneak-peek on our blog 😎https://t.co/7V7oVVi7eS— WazirX (@WazirXIndia) February 7, 2020
What’s The WazirX Exchange?
Launched in March 2018, WazirX is the largest cryptocurrency exchange in India. WazirX defined aim is to solve the Crypto-FIAT conversion problem, which they believe is a significant hindrance in the mass adoption of crypto. The platform is well known for their auto-matching P2P mechanism. The native token of the exchange is WazirX (WRX).
The Famed Auto-Matching P2P Mechanism Is Coming To Binance
WazirX’s P2P (Peer-to-Peer) is the world’s first auto-matching engine, for providing Crypto-FIAT liquidity. It differs from traditional P2P classified type systems, because it doesn’t require users to browse manually through each listing and analyze parameters (order volume, price, payment method) to check if they fit with their requirements. A user might also be required to perform this process several times, if the trade size is large.
The automated WazirX’s P2P on the other hand, allows fast order matching (buyer to seller) and completion, with WazirX providing escrow protection and releasing funds when both parties confirm that the transaction has been executed properly. The P2P interface and experience is user-friendly, acting similarly to the regular exchange trading screens. It simplifies the process of depositing and withdrawing FIAT. The WazirX’s P2P system will result in enhanced liquidity and further improved experience for users on the Binance platform.