Binance, the blockchain company behind the world’s largest cryptocurrency exchange, has launched direct USD deposits and withdrawals for users in more than 70 countries through BPay Global, according to details shared with Finbold on October 22.
BPay Global, a payments service provider licensed 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 U.S. dollars to crypto and back from their fiat wallets.
Direct on- and off-ramp for USD
The new feature supports USD transactions via SWIFT bank transfers, with zero fees for deposits from Binance, as well as credit and debit cards, Apple Pay, and Google Pay.
Thomas Gregory, Vice President of Fiat at Binance, said:
“After much anticipation, we are happy to offer our users direct on- and off-ramp for USD, the most used currency for transactions around the world, which caters to our diverse global user base and their needs. Providing wider USD services allows us to further lower entry barriers to crypto with low costs and enhances the user experience within our platform known for its world-class security.”
The integration allows Binance users to hold funds in regulated fiat accounts through BPay Global’s e-wallet infrastructure, giving them access to multiple global currencies, including USD, for direct use on the Binance platform.
Featured image via Shutterstock.
