Binance U.S. affiliate adds debit card support

The American division of the cryptocurrency exchange Binance – Binance.US – added the ability to purchase digital assets using debit cards.

According to the blog entry, Binance.US customers will be able to buy any cryptocurrency using debit cards, including through the automated payment center (ACH), as well as through bank transfers. In addition, traders will be able to use their own Binance Coin (BNB) tokens to pay for trading commissions.

According to Binance, during the first month after the opening of the American branch, the daily trading volume on the exchange increased to $ 15 million. The number of tokens placed on the platform increased from seven to twenty-four, and traders got the opportunity to work with 40 trading pairs.

In October, the US branch of the exchange said it had insured user funds at the US Federal Deposit Insurance Corporation (FDIC). This means that the platform stores deposits of its customers in US dollars on common custodial accounts in various banks with FDIC insurance.

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Note that many banks and jurisdictions are actively opposed to the purchase of cryptocurrencies using credit and debit cards. For example, banks Lloyds, Wells Fargo and Virgin Money banned the use of their issued cards for the purchase of digital currencies, and recently the Central Bank of Argentina imposed a ban on the purchase of tokens through credit cards.