Binance.US Launches Enhanced USD On-Ramps: Buy & Sell Crypto Using USDT
Binance.US, now a crypto-only platform for two months, has partnered with crypto payments company MoonPay to allow users to buy and sell crypto using the US dollar-pegged stablecoin Tether (USDT).
On August 22, the crypto exchange declared USDT the new "base asset" for all transactions. This collaboration with MoonPay follows Binance.US's recent banking issues, leading to a halt in fiat deposits on the exchange since June 9.
As Binance.US stopped its USD deposits making it a crypto-only exchange, it replaced USD with USDT, a stablecoin pegged to the US dollar, as its new asset for transactions.
With this transition, Binance introduced its enhanced Buy & Sell Crypto With USDT feature on the Binance.US mobile app, which allows customers to buy or sell any of our 150+ supported cryptocurrencies with USDT.
The feature is available on the latest version of the Binance.US app and will be available on its website later.
"To make it easier to fund your account with USDT, we've partnered with third-party payment providers like MoonPay to offer convenient new USD on-ramps that support USDT purchases with debit card, credit card, Apple Pay, and Google Pay."
From the Binance.US app, users can now fund their USDT balance using new USD on-ramps, deposit USDT, or convert another cryptocurrency for USDT.
Users can Buy USDT through integrated third-party payment partners like MoonPay, which supports convenient payment methods (debit card, credit card, Apple Pay, and Google Pay), and also Sell USDT to withdraw USD via bank transfer (ACH).
Binance.US made a significant announcement on June 9, revealing that its banking partners were apprehensive about the US Securities and Exchange Commission's (SEC) actions.
Consequently, these partners were
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