Popular crypto exchange, Binance has launched a feature to allow its users buy cryptocurrencies using Apple Pay and Google pay. This development was confirmed in a Twitter post by its CEO, Changpeng Zhao. As revealed, users will have to use their credit and debit cards via the payment mechanisms to enjoy the service.
Worth noting, the exchange said the service is only available to its users that have completed their account verification process. Notably, Binance is not the direct provider of these service, but it’s third-party partners. As of press time, the service is only availed to citizens of UK and the European Economic Area (EEA), including Belgium, Czech Republic, Denmark, Greece, Germany, Hungary, Iceland, Italy, Switzerland, Neitherlands, Portugal, Polan, Spain, Sweden, Liechtenstein, Sweden and Switzerland.
Occasioned by this development, users would access payment routes using their respective accounts. As designed, users must input the fiat currency and the amount they wish to spend. This thus prompts the system to automatically display the amount of crypto, thereby availing payment option of either Google Pay or Apple Pay.
Binance CEO and his letter to the crypto community
Meanwhile, the confirmation of the integration of the payment systems by Zhao comes barely forty eight hours after he released a public letter to the crypto community. Zhao in the letter affirms hope after reflecting on the various setbacks and wins that greeted sphere in 2022. The CEO, however reiterated the preparedness of his exchange for any case scenario in 2023.
Despite the prevailing bear market, Binance soared in its quest for a global presence. During the year, the exchange engaged in a series of partnerships to extend the scope of its operations and expand crypto adoption and popularity. Within 2022, Binance secured the operational licenses from numerous countries, including Spain, France, Abu Dhabi, and many more.
Just recently, Binance, in its quest to foster crypto usage across the globe, collaborated with a global payment leader, Mastercard. The collaboration manifested in a bid to launch Binance card in Argentina. Notably, the Binance card enables users to buy goods and pay bills with cryptocurrencies. Following the FTX crisis, the exchange unveiled $1 billion in recovery funds to help save distressed assets from imminent crash. All these landmark accomplishments of the exchange greatly defined the year for the exchange.
However, Chanpeng said Binance aims to improve its user protection mechanism, transparency and security in 2023. Through this, the exchange wants to sustain the trust and confidence of its users.
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