Binance.US supports debit card on-ramp as volumes top $15 million

Bitcoin • November 1, 2019, 2:04PM EDT
UPDATED: November 1, 2019, 4:15PM EDT
The Block

Binance's new U.S. operation continues to hit new highs, and now it is enabling customers to purchase cryptocurrency with debit cards. 

The San Francisco-based Binance.US announced debit card support on Friday, according to a press release. It will allow clients to buy crypto assets including bitcoin, ethereum, and XRP. Previously, customers could only purchase coins via ACH payments. The firm said in the announcement that customers' deposit funds are now also eligible for FDIC insurance coverage. As per data compiled by The Block, Binance.US has increased its daily volumes to over $15 million.

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Still, that is a far cry from rival Coinbase, which trades approximately $150 million in an average trading day.

Binance said that it plans to expand its product suite in the coming months, aiming to "lower barriers to entry for new and existing users."

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