Binance CEO “CZ” Changpeng Zhao has said they would love to open a local bank account and allow South African users to buy cryptocurrency directly with rands.
Binance would love to work with local banks to open an account in South Africa, co-founder and CEO “CZ” Changpeng Zhao hasZhao was responding to questions about Binance delisting ZAR trading pairs and whether it would consider launching support for rand deposits.
He said that although it sounds counterintuitive, working with cryptocurrency exchanges and allowing them to operate is better for regulators than trying to block them. “Whereas today, people trade using cash and peer-to-peer bank transfers, and that data is actually very unclear to regulators.”
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