World’s largest cryptocurrency exchange by trading volume, Binance is set to incorporate Google Pay and Apple Pay into its fiat onramp ecosystem. The development surfaced as part of a collaboration between the exchange and Worldpay.
According to a blog post by Binance on Monday, the synergy will allow users to buy crypto with their debit/credit card through the digital wallets. The cryptocurrency exchange narrated how millions of individuals use both Apple Pay and Google Pay for their daily payments.Â
Binance said the inclusion of virtual wallets into its payment system will enhance users’ experience in making seamless fiat-to-crypto transactions. The crypto trading platform highlighted how fiat plays a crucial role in connecting the traditional finance space and the digital assets industry.
Further, Binance emphasized the importance of allowing people to use their day-to-day payment systems to invest in digital assets. By that, the crypto trading outlet added that incorporating popular systems will further familiarize new investors and the digital assets market. More so, the exchange added that streamlining fiat transactions is important in onboarding more people to the cryptocurrency space.
Binance aims to expand payment services for more financial inclusion
According to Binance, the latest partnership with Worldpay is part of the exchange’s broader effort to expand its fait and peer-to-peer services. The firm stated that following the inception of the expansion program, Binance users can buy any cryptocurrencies using more than 1,000 various payment gateways.
Also, Binance said its payment system currently supports more than 125 fiats, supporting users to buy crypto with their local currency without having to switch platforms. The exchange went on to discuss that it is focused on more inclusion across various geographic locations, allowing access to the crypto space in areas with restricted financial systems.
Likewise, the exchange added that it has integrated mobile money infrastructure across 9 countries in West and Central Africa. Similarly, Binance mentioned the launching of 18 new fiat channels for retail and corporate users.
Recently, Binance added dollar deposits and withdrawals for US users after 18 months of disabling the feature. As per a Binbits report, the exchange restored the features alongside 10 new USD trading pairs as the US crypto landscape is currently enjoying a relaxed regulatory environment.
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