By It was announced yesterday that Binance Trust Wallet will now allow users to purchase crypto via credit cards. This new payment option comes courtesy of a partnership between the wallet service and Simplex which is an Israeli payments processor.
This announcement was met with delight from many Binance users. In addition to this, the exchange also announced that it would add support for XRP which currently stands as the third largest crypto asset as per Coinmarketcap.
Users of the Binance Trust Wallet are now able to buy XRP, BTC, ETH and BCH using major credit and debit cards. Notably, the announcement didn’t specify what type of credit cards are supported nor what the fee structure will be like.
Founder of the Trust Wallet, Viktor Radchenko, stated that their goal is to increase access to crypto assets as well as other decentralized applications for crypto users.
Radchenko added:
“Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.”
Binance, which currently stands as the world’s largest cryptocurrency exchange by adjusted volume, acquired the Trust Wallet platform in July 2019. Back at the time of the acquisition, only Ethereum and ETH based tokens were compatible on the platform.
Since the acquisition, however, the exchange has added support for a multitude of other crypto assets and is currently supporting 17 virtual currencies as well as hundreds of decentralized applications aka dApps as per the announcement made yesterday.
Furthermore, the statement also revealed that the Binance Trust Wallet would also act as the native wallet for the exchange’s upcoming decentralized exchange, the Binance DEX which is set for launch by the second quarter of this year.
This is great news for new customers who are seeking to dip their toes in the cryptocurrency pool, and another win for the future of mainstream adoption.
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