- Payment Startup MoonPay Partners with Binance.US to Allow Dollar Deposits
Payment startup MoonPay has partnered with Binance.US to allow customers to convert dollars into crypto after the exchange suspended U.S. dollar deposits in June.
The partnership will allow Binance.US customers to buy stablecoin tether (USDT) using debit cards, credit cards, Apple Pay or Google Pay. Once the USDT is purchased, it can be converted into other crypto tokens.
The move comes as Binance.US has been facing regulatory challenges in the United States. In June, the exchange was ordered to stop trading by the New York Attorney General’s office. The exchange has also been investigated by the Securities and Exchange Commission.
The partnership with MoonPay is a way for Binance.US to provide its customers with a way to continue to buy and sell crypto, even as it faces regulatory challenges.
"We are excited to partner with MoonPay to provide our customers with a convenient and secure way to purchase USDT," said Brian Shroder, CEO of Binance.US. "
This partnership will allow our customers to continue to trade crypto even as we work through the regulatory challenges we are facing.”
MoonPay is a well-known payment processor for crypto. The company has raised over $555 million in funding and has backing from celebrities such as Ashton Kutcher and Justin Bieber.
The partnership between Binance.US and MoonPay is a positive development for the crypto industry. It shows that even as exchanges face regulatory challenges, they are still finding ways to provide their customers with access to crypto.
Also read: Eternal Resurgence: The Evolution and Significance of Crypto Token Burning
The partnership is also a positive development for MoonPay. The company is expanding its reach into the United States, which is the largest crypto market in the world.
The partnership is expected to go live in the coming weeks.
In addition to the ability to buy USDT, Binance.US customers will also be able to buy other stablecoins, such as USD Coin (USDC) and Binance USD (BUSD).
The partnership is a win-win for both companies. Binance.US gets to provide its customers with a way to continue to buy and sell crypto, while MoonPay gets to expand its reach into the United States.
The partnership is also a positive development for the crypto industry as a whole. It shows that even as exchanges face regulatory challenges, they are still finding ways to provide their customers with access to crypto.
About The Author
