• Binance.US, the American subsidiary of the world’s largest cryptocurrency exchange, has inked a new partnership deal with crypto payments startup MoonPay.
• The partnership will enable customers to buy and sell supported crypto assets on the platform using USDT, the largest stablecoin by market capitalization issued by Tether.
• This move is in an effort to bring back dollar transactions for US customers following the departure of its banking partners.

Binance.US Partners With MoonPay To Bring Back Dollar Transactions For US Customers

Partnership Enables Crypto Purchases with USDT

Amid regulatory and legal issues in the United States, Binance.US has teamed up with MoonPay to enable crypto purchases with USDT. In a move to bring back dollar transactions for US customers, Binance.US, the American subsidiary of the world’s largest cryptocurrency exchange, has inked a new partnership deal with crypto payments startup MoonPay.

MoonPay Integration Allows Convenient Purchases

The MoonPay integration allows Binance.US users to conveniently make USDT purchases with debit Apple Pay, credit card, debit card, and Google Pay. According to a blog post on Tuesday (Aug 22), USDT will replace USD as the exchange’s “base asset for transactions” on its platform while remaining a crypto-only platform for now.

Suspension of USD Deposits Following Banking Partner’s Departure

This move follows Binance\’s suspension of USD deposits for users in the United States after revealing that its banking partners were no longer servicing them due to regulatory issues and legal concerns surrounding their operations in America..

Benefits Of Using Stablecoins

Using stablecoins such as USDT provides numerous benefits over traditional currencies including faster transaction times and lower fees – which is especially beneficial when trading cryptocurrencies – as well as offering more privacy compared to fiat currencies like dollars or euros. Also, since most stablecoins are pegged 1:1 against major fiat currency like UDSD or Euro, they act as an alternative form of money that can be used outside traditional banking systems without relying on third party services like banks or other financial institutions..

Conclusion

The partnership between Binance and MoonPay affirms how important stablecoins have become in providing liquidity and allowing users access to digital assets without much difficulty resulting from local regulations surrounding traditional currencies like dollars or euros..