Binance Partners With Simplex to Enable Credit Card Payments

Binance, a leading global crypto exchanges, has partnered with the payment processing firm Simplex to enable credit card Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term on its exchange platform.

According to the announcement, Israel-based Simplex will support VISA and Mastercard-enabled credit card payments and can be used for the purchase of BTC, ETC, and LTC. These cryptos can further be traded for 151 other digital assets offered on the platform.

Buy crypto with your credit card!

In our testing, Simplex does not support all credit cards, but do have a decent coverage. Good luck! https://t.co/qM3LJrEKJd

— CZ 🔶 Binance (@cz_binance) January 31, 2019

Mentioning this partnership, the exchange’s co-founder and CEO Changpeng Zhao said: “We want to provide Binance traders with fast and easy access to crypto, in the most secure way possible. Partnering with Simplex allows us to instantly Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term the gap between credit card payments and crypto for traders globally. On Binance.com, you can now buy crypto with credit cards and start trading in minutes.”

Dominance of Binance

Binance is currently the largest crypto exchange in the world in terms of daily trade volume, according to Coinmarketcap.com data. Despite the bear market and the plunge in cryptocurrency values, the exchange is handling around $600,000 worth of trades every day.

Earlier this month, Binance entered the European market with the launch of a Jersey-based subsidiary called Binance Jersey. The platform offers the European traders four fiat-based trading pairs - BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR.

The exchange also launched an over-the-counter (OTC) trading desk last week facilitating larger transaction without affecting the market.

“Easy and fast credit card payments, for mainstream users, is a key factor in wider adoption of crypto in general. We’re thrilled to partner up with Binance and together enable a much better, fast and easy experience,” said Nimrod Lehavi, co-founder and CEO of Simplex.