Binance, the major cryptocurrency exchange, is enabling citizens in five further countries to buy cryptocurrency using Visa debit and credit cards with their national fiat currencies.
On April 10, it has been reported that the new service will extend card support for the Colombian peso, the South Korean won, the Kenyan shilling, the Kazakhstani tinge, and Peru’s neuvo sol.
However, at launch, a total of five cryptocurrencies are available for purchase:
- Bitcoin (BTC),
- Ether (ETH),
- Binance Coin (BNB),
- Binance USD (BUSD), and
- Tether (USDT).
The announcement by Binance was evidently a positive step for its international user base, follows shortly after the exchange was prompted to respond to allegations by one of its users that the exchange had illegitimately blocked access to his/her account containing close to $1 million in crypto.
It has been analyzed that the accusation, framed as alleged embezzlement on behalf of the exchange, was rebuffed by Binance. It has also been clarified that South Korean authorities had called for the user’s assets to be frozen as they had allegedly received 3,995 Ether (ETH) through a listing fee scam.
Also, this month, Binance has announced its acquisition of CoinMarketCap.
Thus, Changpeng Zhao (CZ), the CEO of Binance, stressed that the site will continue to maintain its independence under the terms of the deal.