30s Summary

Binance Connect, the fiat-to-crypto exchange platform, is relaunched with a new design and improved features after halting operations in August 2023 due to card payment issues. It now supports over 100 fiat currencies, 300 cryptocurrencies, and offers 300 payment methods, including popular ones like Apple Pay, Google Pay and Visa/Mastercard payments. The updated Binance Connect allows users to sell their digital coins directly to their bank cards. The platform was launched in March 2022 and requires account verification with their partner, Paymonade.

Full Article

Binance Connect, which facilitates exchanging real-world currency (“fiat”) to cryptocurrency, is now squared away with a new look and upgraded features. Its previous version had to be discontinued in August 2023 due to issues with card payments.

The spruced-up Binance Connect is all set to make your crypto journey even smoother. How? Well, you can seamlessly shift between your ordinary money and digital coins without having to make extra accounts on the platform.

Wondering about what forms of currency it serves? The list counts over 100 fiat currencies, 300 kinds of cryptocurrencies, and has 300 different payment methods – impressive, right? You can buy and sell digital currencies directly from your existing Binance account through your DeFi wallets.

All of this is designed to stick to the rules and regulations, so you can rest easy about your transactions remaining legit and in the clear. Although, depending on where you live, some services may be limited. Also, they’re teamed up with several regional banks to make deposits and withdrawals an easy affair for you. You can even use popular payment methods like Apple Pay, Google Pay, and straight-up Visa/Mastercard payments through global partners.

A little flashback: Binance Connect originally started in March 2022 as Bifinity – a connected payment company that supported over 50 cryptocurrencies and payment platforms, including Visa and Mastercard. It quickly evolved into Binance Connect and was integrated with the Binance-owned Trust Wallet in June 2022.

Despite closing in August 2023, due to card payment service issues, Binance Connect bounced back. The updated avatar of Binance Connect also allows users to sell their digital coins directly to credit/debit cards resulting in actual money being deposited directly to your bank cards. The service requires account verification with their partner, Paymonade and is gradually being extended to different regions. The collaboration between Binance and Paymonade goes way back to January 2022.

Source: Cointelegraph