- Binance.US customers now have access to MoonPay to allow them to buy crypto and withdraw fiat from the crypto exchange.
- Binance.US was forced to suspend U.S. dollar deposits in June after losing ties with various banking partners.
Payment startup MoonPay is allowing Binance.US customers to convert dollars into crypto after the exchange suspended U.S. dollar deposits in June.
Customers have the option of buying stablecoin tether (USDT) using debit cards, credit cards, Apple Pay or Google Pay and then converting it into crypto tokens, Bloomberg reported Tuesday, citing an email to customers.
"With respect to Binance.US users, we are providing a service for those users that want to purchase crypto as well as convert their crypto to fiat and deposit into their US bank account," MoonPay said in an emailed statement, adding that it carries out know-your-customer (KYC) checks on users of the service.
Binance.US had to suspend dollar deposits after losing ties with various banking partners, following legal action by the U.S. Securities and Exchange Commission (SEC) on allegations that it was operating an unregistered securities exchange.
Binance.US did not immediately responded to CoinDesk's request for comment.
UPDATE (Aug. 23, 09:59 UTC): Adds statement from MoonPay; removes headline attribution to Bloomberg.
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