Binance, the world’s leading cryptocurrency exchange, has announced that it will now accept Apple Pay and Google Pay as payment options for buying and selling cryptocurrency. The move is aimed at increasing the adoption rate of cryptocurrency and making it easier for users to interact with the platform. At present, this service is only available to users in the UK and the European Economic Area (EEA).
Apple Pay and Google Pay are two of the most widely used payment options, making it convenient for Binance users to purchase cryptocurrency. However, it’s worth noting that Binance does not manage these payment options directly, as they are managed by third-party partners. Users will still need to complete Binance’s verification process to buy coins and tokens with these payment options.
In addition to this development, Google Pay recently announced that its customers can use cryptocurrency to pay for cloud services, with the help of Coinbase Prime, a cryptocurrency trading and storage platform. MasterCard also announced a scheme in October 2022 that will allow financial institutions to facilitate cryptocurrency trading for their customers. According to Jorn Lambert, MasterCard’s Chief Digital Officer, there is a large customer base that is interested in using such a service, but would feel more confident if it was offered by their financial institutions.
In summary, the addition of Apple Pay and Google Pay as payment options on Binance will make it easier for users to buy and sell cryptocurrency, and may contribute to the overall adoption of cryptocurrency.
