Binance.US Launches Debit Card Payments, Gains Momentum in First Month Exceeding $15 Million Daily Trading Volume
In its first 30 days since launching, the American digital asset marketplace, Binance.US, has jumped to $15 million in daily trading volume and increased token listings from seven to 24 tokens, bringing a total of 40 trading pairs to U.S. users.
Starting today, users can buy cryptocurrencies on Binance.US using debit cards, joining existing USD on-ramp and off-ramps, including ACH and bank wire. Also, traders can now start using BNB to pay for trading fees to receive a discount.
Binance.US is a fast, secure and reliable digital asset marketplace that launched in late September, and now offers access to buy and sell the following digital assets: Bitcoin (BTC), BNB, Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC) and Tether (USDT), Algorand (ALGO), Basic Attention Token (BAT), BUSD (BUSD), Cardano (ADA), Chainlink (LINK), Cosmos (ATOM), Dash (DASH), Dogecoin (DOGE), Ethereum Classic (ETC), IOTA (IOTA), NEO (NEO), Ravencoin (RVN), Stellar (XLM), Waves (WAVES) Zcash (ZEC), and 0x (ZRX).
For now, Binance.US services 37 states and Puerto Rico, and it is seeking licenses to service the rest of the United States. Catherine Coley, CEO of Binance.US, commented, “This is just the beginning. We want our marketplace to stand out as an easily accessible, educational platform for anyone looking to participate in this global movement.”
Earlier this month, Binance.US increased its ACH (Automated Clearing House) limits for USD deposits and withdrawals, allowing American users the ability to send up to $5,000 through their initial ACH deposit. After this initial amount is cleared, ACH limits for the depositor will increase to $30,000. There are no fees on USD deposits or USD withdrawals made via ACH, making access to digital assets easier through USD.
Binance.US also announced that USD deposits are eligible for FDIC insurance coverage. All USD deposits are held in pooled custodial accounts at multiple banks that are insured by the FDIC. The pooled custodial accounts are maintained in a manner that provides access to pass-through FDIC insurance coverage up to the depositor coverage limit, which is currently $250,000. FDIC insurance coverage protects depositors against the risk of loss in the event that an FDIC-insured bank fails.
“Crypto-literacy can offer Americans the opportunity to unlock new financial freedoms across a global ecosystem. Binance.US is excited to foster these opportunities as a marketplace tailored by and to the needs of U.S. users,” continued Coley. “Whether you’re converting your first dollar into bitcoin, or running your business through our platform, we’ve standardized globally-validated technology to offer a secure, easy-access marketplace with a wider range of digital assets and personalized customer support to put agency in the hands of the user. Beyond a means of asset exchange, Binance.US aims to help users access, evolve, and be in control of their own personal wealth.”
In the coming months, Binance.US will continue to expand its roadmap with a continued aim to lower barriers to entry for new and existing users.
Binance.US is a fast and secure digital asset marketplace, delivering the world's leading cryptocurrency trading technology, speed, and experience to everyday users in America. Based in San Francisco, California, Binance.US is operated by BAM Trading Services and built on the cutting-edge matching engine and wallet technologies licensed from Binance.
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