Binance Expands Crypto Payment Options with Apple Pay And Google Pay

Binance Offers New Crypto Payment Options

The decision taken by Binance is a big step in the right direction for improving the service's usability and encouraging more people to start investing in cryptocurrencies. Users may easily purchase cryptocurrency using these well-known payment methods. However, Binance's action comes following Crypto.com's June 24, 2022, introduction of the Apple Pay payment mechanism to its users.

In recent years, the financial sector's value of payment apps has dramatically expanded. Additionally, people are using these kinds of applications more regularly than ever before, and they have been gradually included in the cryptocurrency ecosystem.

Accessibility of Digital Assets to People

Due to both mobile wallets, the Binance move surely gives a significant share of the market of individuals a chance at digital assets. In the market, it is one of the most popular payment options. According to Business.com, Apple Pay has 43.9 million users worldwide. Furthermore, Google Pay is the most widely used digital wallet overall, with 25 million users, making it the first.

The introduction of these mobile wallets, however, signals a change in the accessibility of digital assets to a wider public. Additionally, the adaptability of these digital wallets may attract new consumers to Binance and the cryptocurrency space. Binance is also making an increased effort to abide by American regulators and law enforcement. The biggest crypto exchange entered the American lobbying group Chamber of Digital Commerce on December 21 in order to assist regulations that promote and protect users.