Binance Blog published a new article, introducing Binance's new service that allows users in over 70 countries to deposit and withdraw USD directly through BPay Global, a regulated company within the Binance Group. This development aims to enhance the ease of transitioning between fiat and cryptocurrency, making the process faster, cheaper, and more convenient for users worldwide.
Binance users can now enjoy seamless transactions via SWIFT bank transfers, credit or debit cards, Apple Pay, and Google Pay. The introduction of direct USD deposits and withdrawals is designed to facilitate a smoother flow between traditional and digital finance. This service is particularly beneficial for both retail and corporate users, who can now fund their crypto accounts and convert between USD and crypto directly from their fiat wallets. Binance offers zero deposit fees for SWIFT bank transfers, further lowering the cost of entry into the crypto market.
Thomas Gregory, Binance VP of Fiat, expressed satisfaction with the launch, stating, "After much anticipation, we are happy to offer our users direct on- and off-ramp solutions for USD, the most used currency for transactions around the world, which caters to our diverse global user base and their needs." He emphasized that providing wider USD services not only lowers entry barriers to crypto but also enhances the user experience on Binance's platform, which is renowned for its world-class security.
With BPay Global, users in eligible jurisdictions can store funds in USD through a regulated fiat e-wallet and use them seamlessly across the Binance platform. This capability is particularly advantageous for those entering the crypto space or managing a growing portfolio, as it offers new levels of flexibility and convenience. The ability to move smoothly between USD and crypto is a significant step in bridging the gap between traditional finance and the crypto world.
In conclusion, Binance's initiative to offer direct USD deposits and withdrawals through BPay Global aligns with its commitment to making cryptocurrency more accessible, secure, and practical for everyday users. By simplifying access for users across more than 70 countries, Binance continues to lead in integrating traditional finance with digital assets, ensuring that its platform remains at the forefront of innovation in the crypto industry.
Miyuki
