Blockchain company Binance, which operates the world’s largest cryptocurrency exchange, has launched direct USD deposits and withdrawals for users in over 70 countries through BPay Global, according to details shared with Finnbold on October 22.
BPay Global, a payment services provider authorized and regulated by the Central Bank of Bahrain and part of the Binance Group, will enable retail and corporate users in eligible regions to fund, store, and convert US dollars into cryptocurrencies and back from fiat wallets.
USD Direct On-Ramps and Off-Ramps
This new feature supports USD transactions via SWIFT bank transfers and there are no fees for deposits from Binance. We also accept credit cards, debit cards, Apple Pay, and Google Pay.
Thomas Gregory, vice president of Binance Fiat, said:
“After much anticipation, we are pleased to be able to offer our users direct on- and off-ramps in the US dollar, the most used currency for transactions around the world. This serves our diverse global user base and its needs. By offering a wider range of USD services, we can further lower the barrier to entry into cryptocurrencies at lower costs and improve the user experience within our platform, which is known for its world-class security.”
This integration will allow Binance users to hold funds in regulated fiat accounts through BPay Global’s e-wallet infrastructure, allowing them to access and spend multiple global currencies, including USD, directly on the Binance platform.
Featured image via Shutterstock.
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