Malta-based Binance exchange launches credit card payments

Binance makes access to crypto assets easier by allowing MasterCard and Visa payments.
Traders to trade BTC, ETH, XRP and LTC minutes after credit card purchases.

John Isige FXStreet

The world' top cryptocurrency exchange by adjusted daily trading volume, Binance has announced that it is starting credit card payments for its customers. The exchange will accept the purchase of major cryptocurrencies using credit cards supported by a payments processor referred to as Simplex.

According to a report published by Cointelegraph, the chief executive officer of Binance, Changpeng Zhao commonly know as CZ said that the exchange has a mission to ensure that traders on the platform have an easy access to digital assets. The new product has been developed in a way that traders can start trading within minutes after buying the crypto assets.

"The crypto industry is still in its early stages and most of the world’s money is still in fiat,” said CZ.

According to Zhao, the crypto industry is still in its early stages of development. Therefore, having fiat currency getaways is essential in making the process of purchasing cryptocurrencies easier.

At the moment, Binance users will have the opportunity of using both MasterCard and Visa to buy Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC).

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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