The “Pay” function, which was introduced by Binance’s international parent to customers outside the United States in 2021, has now been made available in the US.
About 2 years after the global exchange first introduced the option to its users outside of the U.S., the United States-based crypto trading Binance.US has began rolling out its Pay service.
The service, originally launched in beta early Feb of 2021, allows phone users of the app to instantaneously deal with almost 150 approved cryptocurrencies without extra charges. On March 12, the program’s scope was expanded to have included merchant payments.
In a blog post published on December 13 by Binance.US, the company emphasizes that Pay payments will have no transactions or gas costs and mentions that the app is now only accessible on mobile devices while getting ready to launch a web page “which will emerge in the nearish term.”
Binance US Finally Rolled Out A Mobile Payment Service:
While everything was going on, Binance US CEO Changpeng Zhao (CZ) praised the Binance American branch and urged it to “keep expanding” in the face of recent fear, uncertainty, and doubt directed at Binance internationally.
Customers of Binance US must upgrade to the newest version of the mobile application, go through identification authentication, and fill their Pay wallet in order to utilize the new services.
However, the platform is limited to facilitating user-to-user transactions via the Binance.US phone app. Every day, users can get up to $1 mn in cryptocurrency.
The withdrawals come in response to a Reuters article produced on December 13 that the US Justice Department is wrapping up a three-year inquiry into Binance. US prosecutors are reportedly divided over if there is sufficient evidence to bring criminal proceedings against the return and its executives.