Binance, the largest trading platform in terms of trading volume, has just announced its support for the purchase of Ripple’s XRP as well as Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) by combining Visa debit / credit cards.
You can now buy XRP on Binance by directly adding your Visa card
For the moment, the Malta-based platform only supports countries that belong to the European Economic Area (EEA).
After initially allowing users to add new Visa cards, Binance says it will also support Mastercard, another leader in global payment. In addition to this, the platform will also add additional cryptocurrencies that can be purchased directly with your credit card.
Last January, Binance introduced an option that allows users to purchase Bitcoin, XRP and other digital assets with credit cards through Simplex, an Israeli-based payment provider. It was the first step in the development of fiat stock market gateways. The big difference is that users can now add their debit / credit cards directly without having to rely on the third party.
Jeffrey Tucker of the American Institute of Economic Research says XRP is great technology
Another piece of news in the world of crypto, American economist Jeffrey Tucker, who also works as managing editor at the American Institute for Economic Research (AIES), described Ripple XRP as “brilliant technology” in a recent interview on Russia Today. According to Tukcer, the growing popularity of Ripple is due to sometimes outdated traditional financial systems, such as SWIFT.
When asked to explain why Ripple’s recent partnerships, alliances and increased capacity have not had a positive effect on XRP, he explained that the digital token XRP is a “specific type of crypto” and at the moment many regular investors are not interested in this technology.
He went on to say:
This does not mean that it will not change the world. I think this is an extremely important technology because it feeds on the failures of the archaic SWIFT system.
Tucker said Ripple is doing what traditional financial systems have failed to do, which is to provide quick and cheap money transfers.
Our old financial systems are unable to cope with the new era of globalization, which leads to the use of cryptocurrencies to fill this market niche … and XRP is very useful in this sense.
Ripple himself continues to promote the adoption of XRP. Brad Garlinghouse will deliver his speech at the 55th World Forum in Singapore. The Global Forum brings together business leaders, government officials and academics from different countries who share their views on different spheres of the business world. Besides the CEO of Ripple, who will be the only representative of the crypto industry at the event, the list of participants includes representatives from central banks like JPMorgan or MasterCard.