Cryptocurrency exchange Binance has just added one more channel to its fiat gateway, giving users more options to pay for cryptocurrencies.
The exchange announced Wednesday that it has partnered with London-based payments processor Koinal ...
Cryptocurrency exchange Binance has just added one more channel to its fiat gateway, giving users more options to pay for cryptocurrencies.
The exchange announced Wednesday that it has partnered with London-based payments processor Koinal for the new channel. It will allow Binance users to buy five cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC) and XRP - with Visa and MasterCard debit and credit cards, as well as wire bank transfers.
Binance CEO Changpeng Zhao “CZ” said that the move is aimed at “bringing crypto further mainstream,” adding that the exchange “will continue to build fiat-to-crypto gateways in our effort to increase accessibility and adoption of crypto.”
Today’s partnership with Koinal brings the total number of such partnerships by Binance at four. Previously, the exchange has partnered with Simplex, Paxos and TrustToken for its fiat gateway channels.
Simplex is an Israel-based payments processing firm, and allows users to buy BTC, BCH, ETH, LTC, XRP and Binance’s native coin BNB, with Visa and MasterCard debit and credit cards. Simplex charges a fee of 3.5% per transaction or 10 USD, whichever is higher.
Paxos and TrustToken channels, on the other hand, support only bank transfers. The former allows purchasing BUSD and PAX stablecoins, while the latter allows purchasing only TUSD.
The Block has reached out to Binance for more details on the Koinal integration, such as fees charged, etc., and we will update this story if a reply is received.
source https://www.tokentalk.co/The Block/binance-adds-one-more-channel-to-its-fiat-gateway-allowing-users-to-pay-for-crypto-with-debit-and-credit-cards-5d8b47c13760a02d24e948d9
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