Binance and Simplex Partner for Credit Card Crypto Payments

Binance and Simplex Partner for Credit Card Crypto Payments

On 31 January, Binance announced their partnership with Simplex, a fintech payment processing company, to give users a new payment option when buying cryptocurrency through the exchange

We’re thrilled to partner up with Binance and together enable a much better, fast and easy experience.

Nimrod Lehavi, Chief Executive Officer of Simplex

Binance now accepts credit card as payments for buying cryptocurrencies. The exchange will utilize Simplex’s ‘guaranteed’ fraud-free payments processing solution to make the buying option available for users. And in the event of a chargeback, Simplex will reimburse the merchant.

Through the partnership, BTC, ETH, and LTC can be bought using Visa or Mastercard. After, the three mentioned cryptocurrencies can be traded for any of the 150 tokens the exchange carries. The feature is now ready for use on the Binance website.

Credit Card Payments for Greater Crypto Adoption

The crypto industry is still in its early stages and most of the world’s money is still in fiat. Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users.

Changpeng ‘CZ’ Zhao, Chief Executive Officer of Binance

The exchange has the ability to process over 1.4 million transactions per second. Users of the platform come from more than 190 territories worldwide. It is the biggest exchange by trading volume. Plus, security, resilience, and speed are said to be among the focus of the platform. By offering an alternative payment option, Binance is encouraging a more extensive reach for cryptocurrency on the global stage.

In last year’s last quarter, the exchange propelled two fiat-to-crypto exchanges: Binance.je for Euro- and British Pounds-to-crypto and Binance Uganda for Ugandan Shillings-to-crypto.

Binance and Simplex can be reached via pr@binance.com and sales@simplex.com

BTC

3,959 USD
0.61%

ETH

147.51 USD
1.26%

LTC

51.15 USD
6.74%

BNB

11.09 USD
-0.18%

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