To possibly circumvent disruptions that have made it impossible for American customers of Binance.US to deposit or withdraw dollars, the cryptocurrency exchange is partnering with MoonPay, the company said last week on its website.
Binance.US customers who want to add to their account will now have the ability to exchange dollars for crypto by first buying Tether's USDT stablecoin, which can then be converted into other cryptocurrencies available on the platform, the statement said.
"We’ve partnered with MoonPay to make buying and selling crypto fast and easy, all within the Binance.US mobile app," Binance.US said in a statement. Customers can use debit cards, credit cards, Google Pay and Apple Pay to buy USDT. "USDT can then be used to instantly buy and sell 150+ different cryptocurrencies available on Binance.US," the company said.
"MoonPay provides both on-and off-ramp services," a MoonPay representative told The Block. "With respect to Binance.US users, we are providing a service for those users that want to convert their crypto to fiat and deposit into their US bank account. MoonPay performs rigorous KYC checks on all customers. We support many of our existing partners and exchanges with this functionality."
Binance.US customers have not been able to deposit or withdraw dollars for more than a month after banking partners cut ties with the American arm of Binance's crypto trading empire. Binance is the biggest cryptocurrency exchange in the world.
Binance may soon also be cleaved apart from Binance.US, with a June 17 proposal from the Securities and Exchange Commission aiming to stop Binance Holdings officials from accessing Binance.US cloud infrastructure. The proposal is still pending federal approval.
MoonPay did not immediately respond to a request for comment from The Block.
Updated with a comment from a MoonPay representative.
source:theblock
Polkadot was launched in May 2020. In a market dominated by Bitcoin and Ethereum, it quickly established itself as the next generation blockchain. The scale and interoperability problems limit Bitcoin's ability to transfer value without the assistance of
For some newcomers to the currency circle, they are not familiar with the investment in the currency circle, and their understanding of the special currency is not very deep. Therefore, they may be at a loss in the choice of investment methods. Many inves
Lummis is a well-known crypto advocate on Capitol Hill with over $100,000 in crypto.
Several analysts argue that shrimp accumulation is good for the Bitcoin network because it makes the asset more decentralized over time.
ARK Invest filed for a spot Bitcoin ETF in collaboration with 21Shares long before BlackRock did, and its application is reportedly first in line for the SEC’s approval.
Interestingly, the price surge was on the back of increased activity from whales, as indicated by on-chain data. The increased activity led to an increased"/>
Recent market dynamics have seen Solana struggling to break above the $200 mark. A notable bearish factor among these market fundamentals is the recent"/>
DOGE, the internet's favorite memecoin, is back in the spotlight. Recent data reveals a surge in futures market activity, coupled with bullish technical"/>
The recent stratospheric rise of Bitcoin, reaching a new all-time high of $73,000, has sent ripples of excitement and trepidation through the crypto world."/>
Co-founder of Tornado Cash Roman Storm has filed a motion to dismiss the charges levied against him by the US Department of Justice (DOJ)."/>
On Thursday, March 28, a hack occurred on Prisma Finance, a decentralized lending protocol on the Ethereum network. The exploiter carted away about 3,257.7"/>
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.
Tue, 18 Apr 2023