Binance.US Introduces Pay for US Customers to Enable Instant Crypto Payments with Zero Fees

UTC by Steve Muchoki · 3 min read
Binance.US Introduces Pay for US Customers to Enable Instant Crypto Payments with Zero Fees
Photo: Depositphotos

Binance CEO Changpeng Zhao (CZ) commended the United States business entity and urged them to ‘keep building’.

Cryptocurrency exchange Binance.US has announced that registered customers can now use its Pay services at zero cost. In a bid to attract more customers amid the ongoing crypto winter, the largest cryptocurrency exchange by daily traded volume announced that users could send, receive or request payment via 150+ supported digital assets. Following the announcement, Binance native coin BNB gained approximately 2.3 percent in the past 24 hours to trade at about $274.55.

Furthermore, the BNB coin is significantly incentivized by Binance and will largely be used in the Pay services.

“As one of our top-requested features, Pay makes sending and receiving crypto seamless, enabling instant, zero-cost crypto transfers for all Binance.US customers, ultimately avoiding costly gas fees,” the company noted.

Binance CEO Changpeng Zhao (CZ) commended the United States business entity and urged them to ‘keep building’. Moreover, the FTX fallout has significantly shuttered confidence in centralized exchanges, as shown by the daily traded volume that has shifted to DEXs.

Binance Sells Like Hot Cakes

Founded in 2017 by CZ and Yi He and registered in the Cayman Islands, the cryptocurrency exchange has been licensed to operate in several countries on all seven continents. With deep liquidity in its ecosystem, Binance takes pride in over 120 million worldwide registered customers. The company’s popularity has widened following the collapse of FTX and Alameda.

Notably, the company’s non-custodial Trust Wallet and its TWT token have recorded a sharp uptick in customer usage following the FTX implosion.

Through the Binance pay, which is now available in most places the exchange is regulated, the company anticipates onboarding more novice crypto traders. Furthermore, Binance Pay users can synchronize contacts to find family and friends without the need for hashed addresses.

Reportedly, the company intends to launch a web version of the Pay services in the near future. As such, the company will be integrated via thousands of e-commerce outlets like Amazon and eBay.

“With Pay, we deliver a simple and intuitive user experience, with thoughtful cost-saving benefits for our Binance.US community, to bring the value and utility of crypto to customers’ everyday lives,” the company said.

Binance.US has been licensed to operate digital assets in almost all the states, hereby giving the notion of immense potential to gain global market. Reportedly, less than half a billion people use crypto assets worldwide out of over 8 billion.

Mainstream use of crypto assets was unsuccessful in the first decade of existence, as it was mostly used for speculative purposes.

Binance has, however, placed itself strategically to help push global crypto adoption to the mainstream market.

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Steve Muchoki

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