Recently, it was announced that Binance ( list as the worlds No# 1 exchange by adjusted volume ) is now allowing the purchase of crypto-currencies with Mastercard and Visa Credit and Debit cards.
According to an article by Yogita Khatri in Coindesk ( Jan 31, 2019 ) Binance is partnering with the Israel based payment processing firm Simplex to enable cryptocurrency purchases with Visa and Mastercards. Binance CEO Changpeng Zhao added that “Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users.”
A short video from “Blockchain Daily” Click the following link: https://youtu.be/lSUS6obdJcc
Now, this is actually a very large step for the cryptocurrency world, since it was just about a year ago that Visa was not so cooperative and left several companies high and dry. As a provider of financial services and a $270 billion credit card network ( see article by, ahmadtahir on Steemit.com (1 ). About a year ago Visa terminated its working partnership with Gibraltar’s Wave Crest Digital Payment Processing Company, completely disrupting debit and debit service providers TenX, Xapo, Coins.ph, Bitwala, BitPay and CryptoPay. According to Visa it terminated it’s partnership with Wave Crest because ( Wave Crest ) was not compatible with it’s ( Visa’s ) operating rules.
So, here we are with Visa and Mastercard partnering with Binance to offer the purchase of cryptocurrency using credit cards. The extremely useful “card”, a ubiqutious medium for economic and financial transactions. It would seem that the world continues to move forward and digital currencies are becoming an intergal part of the existing and expanding worldwide payment ecosystem.
Mastercard and Visa must see Binance, as being compatible with their operating rules, makes sense.. right? It only takes one cryptocurrency exchange at a time until Bitcoin and other cryptocurrency with Technology, Community and the fuel that powers the legitimate ones, Liquidity.
Binance has liquidity and is growing. Visa and Mastercard got out of the murky waters and hitched their wagon to a leader, making serious plans for their digital future. It looks like this is a win win relationship.
Venable Dance, Entrepreneur
Work At Home Investors.