Binance, a globally renowned cryptocurrency exchange, has now partnered with Koinal, a payment processing firm from the United Kingdom. The primary aim of Binance Koinal partnership is to help Binance deliver more crypto-based purchasing services to its community.
As per the statement, starting September 25, users of Binance can purchase cryptocurrencies including Bitcoin using their credit or debit card at low prices via their proprietary ‘Binance Fiat Gateway.’ They can move towards trading in a few minutes. It will be interesting to see how this sparks a competition in the realm and how other exchanges will react.
Binance Koinal partnership to make crypto mainstream
As per the Binance Chief Executive Officer, the ability to effortlessly convert fiat currency into digital assets is essential to increase its adoption among the masses. This is how it will become mainstream. The growth of blockchain industry will bridge the gap between both the worlds.
Binance is aiming to deliver enhanced services to its users and emerge as a crypto leader. It is focusing on the fiat-to-crypto gateways solutions to power its infrastructure growth. It is striving to increase the use of crypto in the general masses and remain highly accessible to new users.
Koinal excited to join hands with Binance
Koinal says its technological partnership with Binance will allow the users of the exchange to purchase digital currencies like Litecoin, Bitcoin, etc. using their local fiat currency. They can buy either via credit or debit cards, wire transfers, or other traditional methods. The service will benefit users from over 175 countries.
As per the official blog post, community members will benefit from the low fees (2.5% for every transaction) and high efficiency of the platform. Average purchase time of five to twenty minutes will ensure that users can move towards trading quickly.
Koinal sales head, Caroline Holst, says that that the company is excited with this Binance Koinal partnership. It is eager to provide a credit card payment gateway to own digital assets, thereby enjoying increased access. Koinal looks forward to providing more affordable crypto solutions to the worldwide Binance community.