Binance Announces support for Apple Pay and Google Pay
- Binance confirmed that its users can now buy cryptocurrencies using both Apple Pay and Google Pay.
- Users noted that this is a huge milestone in the global adoption of crypto assets and improving their accessibility.
- The exchange will allow customers to purchase crypto using these two applications which have millions of users.
- The firm also debuted “Pay” feature for all its customers in the United States.
The world’s biggest crypto exchange, Binance, has been on a roll following the collapse of its rival, FTX, in the month of November. Under the leadership of Changpeng Zhao, also known as CZ in the industry, the exchange has announced partnerships and expansion deals with notable entities. Interestingly, on December 29, the exchange confirmed that its users can now buy cryptocurrencies using both Apple Pay and Google Pay.
Apple Pay and Google Pay are two of the most widely used payment platforms across the world, with millions of people using them on a daily basis. Interestingly, with the integration of the new payment method in Binance, it will become quite easy for investors to buy and sell crypto without much hassle. This move marks a huge milestone in the global adoption of crypto assets and improves their accessibility as well.
Following the announcement from Binance, several users on Twitter posted their experiences of the same and revealed that Google Pay and Apple Pay are working well for them. This is a huge step, as pointed out by a Twitter user by the name of @BlockchainSauce, because the crypto space is often criticized for not being easily accessible and complex. It seems that the leading exchange has solved this problem for many users.
Following the crypto market boom of 2021, the usage of crypto assets has become more common, and it seems that Binance aims to bring more users under its roof during the prevailing crypto winter. However, many crypto investors lost faith in centralized exchanges following the collapse of FTX, which was one of the worst financial disasters seen in the world of crypto assets. Prior to its collapse, the exchange was valued at a whopping $32 million.
Notably, negative reports regarding Binance flooded the crypto market, with one Reuters report claiming that the exchange was being investigated by the Department of Justice and that half of the DoJ wants to take strict action against the exchange and file criminal charges. There were also rumors about the exchange being insolvent. The exchange denied the claims.
Moreover, CEO Zhao stepped in to reaffirm the faith of his customers and stated that Binance is working fine and this was an attempt from paid media to cause FUD against the firm. The CEO of the US arm of the exchange, Brian Shroder, stated that his firm will be left with millions even if every user withdraws money, adding that Binance US maintains 1:1 reserves, which are subject to regular regulatory reporting and audits by government agencies.
It is also crucial to note that Binance recently acquired the Indonesian crypto exchange Tokocrypto and also debuted “Pay” feature for all its customers in the United States, allowing them to send money “immediately” using their smartphones.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
