The US branch of Binance has launched a plan called “Pay” launched by its global parent company to users outside the US in 2021.
US-based crypto exchange Binance.US has finally launched the Binance payment service – about 22 months after the global exchange launched the initiative to customers outside the United States.
The service, a beta version of which was launched globally in February 2021 for peer-to-peer payments that expanded to include consumer transactions on March 12, allows users of the Binance app to make transactions instantly and virtually at least 150 supported cryptocurrencies without any fees.
A Dec. Blog 13 Binance.US points out that the payment transaction will not have gas or transaction fees, and says that the application is currently only available on mobile as it prepares to introduce a web version ” which will arrive in the near future.”.
Meanwhile, amid the recent fear, uncertainty and doubt against Binance worldwide, Binance CEO Changpeng Zhao (CZ) praised the Binance US unit, saying “Continue to build!”
To get the new features, Binance.US users will need to update to the latest version of the app, go through the identity verification process, and load a Pay wallet.
However, the service only supports transactions between users on the Binance.US mobile app. Users can receive up to $1 million in crypto every 24 hours.
The new announcement comes at a time of turmoil for the global crypto exchange. As of this writing, Binance Bitcoin BTC ($17,887).
The balance has decreased by more than 42,000 in the last 24 hours, amounting to more than $754 million. But despite the withdrawal, the exchange still has a Bitcoin balance of over 527,304 BTC, according to on-chain asset monitoring Coinglass.
The withdrawal follows Dec. 13 Reuters reports that the Department of Justice in the United States is nearing the end of a three-year investigation into Binance, and US lawmakers are clearly divided on whether there is enough evidence to initiate criminal proceedings against the exchange and its leaders.
In addition, there have been new concerns in the crypto community about the currency Binance, and financial experts and financial experts of the Wall Street Journal suggest that the December 10 report shows evidence of Binance security is raising several red flags as the community fears the worst. In the Dec update. 14 on Twitter, CZ said that “things seem to be stable,” adding that yesterday’s break was not even among the top five days for removal in history. Binance.