Binance.US Partners with MoonPay to Support USD-to-USDT Transactions
Binance.US users in the United States can now purchase USDT using debit cards, credit cards, Google Pay, and Apple Pay.
Binance.US Partners with MoonPay to Facilitate USD-to-USDT Transactions
According to an announcement from Binance.US, to streamline the USD deposit/withdrawal process, the exchange has collaborated with the payment platform MoonPay.
Customers can utilize debit cards, credit cards, Google Pay, and Apple Pay to purchase USDT, enabling access to trade over 150 different cryptocurrencies available on the Binance.US platform, all accessible through the exchange's mobile app.
Today, we're excited to introduce a new $USD on-ramp!
— Binance.US 🇺🇸 (@BinanceUS) August 22, 2023
✔️ Buy $USDT on https://t.co/AZwoBOgsqS through payment partners like @moonpay, which supports debit & credit card, Apple Pay, and Google Pay.
✔️ Sell USDT for USD to withdraw via bank transfer.
Learn more & get started ⤵️
Additionally, MoonPay allows users to convert USDT back to fiat currency and withdraw to their US bank accounts. The payment company asserts stringent KYC procedures and has partnered with numerous projects to enhance this functionality.
For these services, users will incur a fee of 3.49% per transaction, with a minimum fee of $30 for each deposit or withdrawal order. USDT transactions will be processed on the TRON network.
In the past, Binance has faced disruptions in USD payment operations due to sudden bank partner closures, notably Signature Bank, a crypto-friendly institution forced to shut down by authorities in March. Binance.US subsequently issued similar notifications in June following challenges in securing new banking partners.
Meanwhile, MoonPay has been a controversial project, embroiled in issues such as The Information's expose of executives pocketing $150 million from fundraising and involvement in a lawsuit over improper NFT advertising with Yuga Labs.
