Binance integrates Apple Pay and Google Pay

[ad_1]

Binance, the world’s largest cryptocurrency exchange by number of customers, has integrated Apple Pay and Google Pay as a payment method, according to a Dec. 29 tweet.

Apple Pay and Google Pay are popular and have gained widespread adoption in recent years. By adding support for these payment options, the exchange makes it easier for users to hold and trade cryptocurrencies, driving adoption.

According to Binance, this service is only available to residents of the UK and the European Economic Area (EEA). The disclosure indicates that customers can use these popular payment options to purchase coins and tokens listed on Binance. However, users should be aware that processing services are not directly provided by Binance. Instead, all purchases will be through “third party partners” that Ramp partners with from time to time.

Users who wish to acquire cryptocurrencies via Apple Pay or Google Pay must complete Binance’s account verification process. The addition of these new payment options is among some of the updates and improvements Binance has made. Earlier, the ramp unveiled Binance Pay and Binance Card.

Google said earlier this month that by 2023, some of its customers would be able to pay for cloud services using cryptocurrency. The connection is under development with Coinbase Prime, a cryptocurrency trading and storage platform.

MasterCard also launched a program in mid-October to “allow financial institutions to offer cryptocurrency trading to their consumers.” Jorn Lambert, Chief Digital Officer at MasterCard, said there is a large customer base “out there who are genuinely interested in this and intrigued by cryptocurrencies,” but they will be more confident if their financial institutions provide the services.

Follow us on Google News

[ad_2]