Binance’s Trust Wallet Enables Credit Card Payment, Adds XRP Support

Binance has added support for credit card Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term on its official wallet platform Trust Wallet.

According to the official announcement, the leading crypto exchange has partnered with the Israeli payment processing company Simplex to enable the direct purchase of digital assets using credit cards. Both firms first joined hands in January this year to bring similar payment support on Binance’s flagship crypto exchange.

Along with the credit card support, the platform has added support for XRP storage as well. Trust Wallet users can also store BTC, BCH, LTC, and ETH on the platform.

Commenting on this development, Viktor Radchenko, founder of Trust Wallet, said: “We want to increase access to crypto and decentralized applications for all users. Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.”

In July last year, Binance acquired Trust Wallet to jump into the business of crypto storage. At that time, the wallet platform only supported Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term and ERC-20; however, since then, Binance has extended support to 17 blockchains and “hundreds of DApps via its Web3 browser.”

Binance has long maintained its status of the leading crypto exchange in terms of handling the daily trading volume. According to CoinMarketCap.com, the exchange registered over a billion dollars worth of trades in the last 24-hours.

Preparing for the DEX Launch

Last month, the crypto exchange launched the public test network of its much anticipated decentralized crypto exchange called Binance DEX. The exchange has also decided to make Trust Wallet the native wallet platform for the upcoming peer-to-peer exchange platform.

Besides dominating the crypto trading sector, Binance is also pushing to host token sales on its native Binance Launchpad. The platform has recently hosted two successful token sales - one for BitTorrent token and the other for Fetch.AI.