Binance And Koinal Join Forces To Offer New Cryptocurrency Payment Channels | UseTheBitcoin

Binance And Koinal Join Forces To Offer New Cryptocurrency Payment Channels

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Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The cryptocurrency exchange Binance has partnered with the London-based payment processing company Koinal.

The goal of this partnership is to offer more crypto purchasing services on the Binance platform. Binance shared this information with UseTheBitcoin on September 25. 

Binance To Add More Payment Channels

Users in supported countries will now be able to buy Bitcoin (BTC) and other virtual currencies using a debit or credit card. Interested investors will be able to do so through the Binance Fiat Gateway and start trading on Binance.com in just a few minutes. 

With these new services, users will have a new way to access the cryptocurrency market. As the demand for digital currencies grows, new services are created to offer the best solutions for users to deal with virtual currencies. 

Changpeng Zhao, the CEO of Binance commented about it:

“Freedom to convert easily between fiat and cryptocurrency is key to bringing crypto further mainstream. As the blockchain industry matures, there is more demand to bridge the two worlds than ever before.”

He went on saying that they want to provide users with the easiest way to enter the cryptocurrency market. The exchange continues building fiat-to-crypto gateways in their effort to increase accessibility and crypto adoption. 

Binance users will be able to purchase Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and XRP using local currency through debit or credit cards. That includes Visa, Mastercard and wire bank transfers. The services are now available to users in more than 175 countries around the world. 

Caroline Holst, the Head of Sales at Koinal, said they are thrilled to partner with Binance and open up an additional credit card payment channels to the digital asset economy. 

“We look forward to bringing more ease and affordability of purchasing digital assets to the global Binance community,” Holst commented. 

Koinal is a company that was founded back in 2018 and it is currently headquartered in London. The firm makes purchases of digital currencies simpler with its proprietary exchange technology. At the same time, the firm uses fraud monitoring and advanced encryption technology solutions to protect users’ payments and be sure everything is processed as expected. 

The solution comes at a moment in which the cryptocurrency market fell over 15% in just a few minutes. Despite this weak price performance in the space, companies such as Binance continue improving their services for the next bull market in the crypto industry. 

Yesterday we reported at UseTheBitcoin that more than 25,000 retail stores in France are going to be adding Bitcoin payments support by 2020. 

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