Binance.US partners with MoonPay to add new USD on-ramp service

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Photo Source: Binance US (Youtube)
The official announcement stated, “As Binance.US completes its transition to a crypto-only exchange, we’ve replaced USD with USDT, a stablecoin pegged to the U.S. dollar, as our new base asset for transactions.”

Crypto exchange Binance.US has added support for MoonPay, a third-party payments provider, to allow users to fund their Tether (USDT) balance with US Dollar (USD) holdings.

Earlier in June, Binance.US suspended USD deposits and withdrawals after the SEC filed an emergency action to freeze all assets on its platform. Subsequently, Binance’s US arm began its transition into a crypto-only platform whilst pursuing new banking partners to re-establish USD services. 

According to Binance.US’ latest blog post, the platform has switched its base asset from USD to Tether. The new partnership with MoonPay will allow its clients to fund their wallets with USDT via Apple Pay, Google Pay, and debit and credit cards.  

Users will be directed to MoonPay’s website when they attempt to buy Tether tokens, and the USDT assets will be transferred to their Binance.US wallets via the TRON (TRX) network upon successful purchase. 



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Meanwhile, clients who wish to cash out their crypto holdings can do so by selling the tokens for USD and withdrawing the sum to their bank account through ACH. 

Unfortunately, users will still not be able to purchase cryptocurrencies using direct bank transfers as Binance.US has yet to enable this facility.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
The official announcement stated, “As Binance.US completes its transition to a crypto-only exchange, we’ve replaced USD with USDT, a stablecoin pegged to the U.S. dollar, as our new base asset for transactions.”

Crypto exchange Binance.US has added support for MoonPay, a third-party payments provider, to allow users to fund their Tether (USDT) balance with US Dollar (USD) holdings.

Earlier in June, Binance.US suspended USD deposits and withdrawals after the SEC filed an emergency action to freeze all assets on its platform. Subsequently, Binance’s US arm began its transition into a crypto-only platform whilst pursuing new banking partners to re-establish USD services. 

According to Binance.US’ latest blog post, the platform has switched its base asset from USD to Tether. The new partnership with MoonPay will allow its clients to fund their wallets with USDT via Apple Pay, Google Pay, and debit and credit cards.  

Users will be directed to MoonPay’s website when they attempt to buy Tether tokens, and the USDT assets will be transferred to their Binance.US wallets via the TRON (TRX) network upon successful purchase. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Meanwhile, clients who wish to cash out their crypto holdings can do so by selling the tokens for USD and withdrawing the sum to their bank account through ACH. 

Unfortunately, users will still not be able to purchase cryptocurrencies using direct bank transfers as Binance.US has yet to enable this facility.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande