Binance.US Unveils New USD On-Ramps in Partnership with Moonpay

Summary

• Binance.US has partnered with MoonPay to offer new USD on-ramps for users to buy USDT.
• The new on-ramps allow users to purchase USDT using debit cards, credit cards, Apple Pay, and Google Pay.
• The partnership comes after Binance.US severed ties with its banking partners and suspended fiat deposits on the platform.

Following its recent decision to transition to a crypto-only exchange, Binance.US has rolled out an innovative solution for users seeking to trade cryptocurrencies using the US Dollar, in partnership with MoonPay. The enhanced Buy & Sell Crypto feature will allow users to seamlessly trade 150+ supported cryptocurrencies with USDT.

On August 22, Binance US announced the replacement of USD with USDT as the new base asset for transactions. 

The recent collaboration emerged as Binance.US severed ties with its banking partners, resulting in a suspension of fiat deposits on the platform as of June 9. This strategic move aims to enhance the trading experience for users and streamline the exchange's operations.

With direct bank deposits currently disabled on Binance.US, the partnership with MoonPay, a third-party provider, will enable USD on-ramps that allow users to purchase USDT using debit cards, credit cards, as well as popular digital payment methods like Apple Pay and Google Pay.

Before facing a lawsuit from the SEC, Binance.US and its affiliated entities facilitated the buying and selling of popular cryptocurrencies using direct USD deposits and withdrawals.

Binance.US's commitment to innovation continues in the wake of intensifying regulatory pressure. The exchange's latest initiative promises to foster broader accessibility and convenience within the evolving digital asset landscape.