Crypto Exchange Binance Denies It Will Introduce Dollar Trading

(Bloomberg) -- Binance, the world’s biggest cryptocurrency exchange by traded value, denied reports that it will allow users to buy digital tokens with dollars.

The reports are “fake news,” a spokeswoman said by email.

Articles claiming that Binance would introduce dollar transactions circulated on Twitter and several cryptocurrency websites on Friday, pushing up prices for so-called alt-coins including EOS and Monero. Binance currently only handles trades between cryptocurrencies, meaning clients can swap one token for another but not for a traditional currency like the dollar or the euro.

EOS and Monero both rose more than 8 percent over the past 24 hours even as the gain in Bitcoin, the original cryptocurrency, was more subdued at around 2 percent, according to Coinmarketcap.com.

Founded by Zhao Changpeng less than a year ago, Binance consistently ranks No. 1 on Coinmarketcap.com’s list of exchanges. It handled $2.2 billion of trading in the past 24 hours, according to the data aggregation site.

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