Hassan Maishera
Binance, the world’s leading cryptocurrency exchange, is known for its innovative approach in the market. The crypto exchange has now introduced a new service that allows users globally to deposit and withdraw USD from its platform.
Binance Leverages BPay Global to Launch USD Deposit and Withdrawal Services
Leading cryptocurrency exchange Binance announced on Wednesday, October 22nd, that it is now offering direct USD deposits and withdrawals for its users in over 70 countries.
This latest development comes as Binance leverages BPay Global, a Payments Service Provider licensed and regulated by the Central Bank of Bahrain, and part of the Binance Group.
Thanks to this integration, retail and corporate users in eligible countries can easily fund, store, and convert USD to crypto from their fiat wallet and vice versa. USD deposits and withdrawals are available via SWIFT bank transfers with zero fees for deposits from Binance, and also credit/debit card, Apple Pay, and Google Pay.
While commenting on this service, Binance VP of Fiat Thomas Gregory, stated that,
“After much anticipation, we are happy to offer our users a 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.”
Binance added that BPay Global provides its users with a fiat e-wallet designed to allow them to store their own funds with a regulated entity in global fiat currencies, including USD, and to use them directly on the Binance platform.
This latest development comes roughly a month after Binance announced the expansion of AI on its exchange and wallet platforms to help users make better-informed and independent decisions.
The tools are: AI Token Report on Binance Exchange, AI Token Narrative, and Token Sentiment Signal on Binance Wallet.
According to the crypto exchange, the tools will address users’ pain point of managing the 24/7 crypto market’s constant flow of information that can overwhelm even seasoned traders.
