Binance the Cryptocurrency exchange official wallet and Trust Wallet now adopts credit card as means of payment.
According to an announcement from binance, the introduction of this new payment method is in partnership with payment processor Simplex currently based in Isreal.
Trust wallet is aiding XRP (ripple) which comes third in cryptocurrency market capitalization; said Binance.
The announcement was not specific on the approved card Trust Wallet users can use or the fees attached. However, wallet users can purchase bitcoin ( BTC), XRP (ripple), bitcoin cash(BCH), litecoin (LTC) and ether (ETH) using either debit or credit card.
Viktor Radchenko, founder of Trust Wallet spoke on the plans of increasing access to crypto and decentralized applications for all users.
Viktor Radchenko; further added that the addition of card in the crypto market will boost its adoption ( General acceptance) considering its vision of bringing financial freedom. More features will still be integrated into Trust wallet.
Trust Wallet was newly acquired by binance last July. Binance, increased its trading volume with this move; although being the topmost cryptocurrency exchange. The wallet was compatible with only ethereum and ethereum-based tokens at the time. Hopefully, other features are coming soon.
Ever since its inception, the exchange has supported more cryptocurrencies. Presently, it supports 17 tokens and “hundreds” of decentralized apps or dapps. Source- Tuesday’s announcement.
According to binance, Trust Wallet will be a native wallet to its upcoming decentralized exchange and binance DEX, which will kick off come Q2 this year. The platform was officially launched on 20th February 2019.
Beginning of this year, the exchange supported credit card purchase. They also partner with Simplex enabling users to purchase BTC, XRP, LTC, and ETH.