Binance.US partners with MoonPay to support users in purchasing USDT with USD

Binance.US users can now use debit cards, credit cards, Google Pay, and Apple Pay to buy USDT.

According to an announcement from Binance.US, in order to avoid disruptions in USD deposits and withdrawals as experienced previously, the exchange has collaborated with the payment platform MoonPay to facilitate swift and seamless conversion processes.

Customers can utilize debit cards, credit cards, Google Pay, and Apple Pay to purchase USDT, enabling them to trade over 150 different cryptocurrencies available on the Binance.US platform, all accessible through the exchange's mobile app.

Additionally, MoonPay allows users to convert USDT back to fiat currency and send it to their U.S. bank accounts. The payment company emphasizes its strict KYC process and partnerships with various projects for this functionality.

With these services, users will incur a fee of 3.49% per transaction, with a minimum of $30 USD for deposits and withdrawals. USDT will be transferred to wallets via the TRON network.

In the past, Binance has had to suspend USD payment operations due to the sudden loss of banking partners, specifically Signature Bank, a crypto-friendly bank forced to close by authorities in March. Binance.US subsequently issued a similar announcement in June after a challenging period searching for new banking partners.

Meanwhile, MoonPay has faced controversy and challenges, with The Information revealing that its leadership pocketed $150 million from fundraising rounds and being involved in a lawsuit over improper NFT advertising with Yuga Labs.