Binance's Trust Wallet Adds Support for XRP, Credit Card Payments

Cryptocurrency exchange Binance’s official wallet, Trust Wallet, now lets users buy cryptos with credit cards.

The new payment option is being offered in partnership with Israel-based payments processor Simplex, according to an announcement from Binance on Tuesday.

At the same time, the exchange said, Trust Wallet is adding support for XRP, the third largest cryptocurrency by market capitalization.

Trust Wallet users can now, therefore, purchase XRP, bitcoin (BTC), bitcoin cash (BCH), litecoin (LTC) and ether (ETH) with "major" credit and debit cards. The announcement did not specify which cards are supported or other details such as fees.

“We want to increase access to crypto and decentralized applications for all users,” said Viktor Radchenko, founder of Trust Wallet.

He added:

Binance, the world’s largest cryptocurrency exchange by adjusted trading volume, acquired Trust Wallet last July. The wallet was compatible with only ethereum and ethereum-based tokens at the time.

Since then, the exchange has enabled support for multiple cryptocurrencies and currently supports 17 tokens and “hundreds” of decentralized apps or dapps, according to Tuesday's announcement.

Binance further said that Trust Wallet will be a native wallet to its upcoming decentralized exchange, Binance DEX, which is expected to launch in early Q2 of this year. The platform launched for public testing on Feb. 20.

Last January, the exchange itself added support for credit cards purchases, also in partnership with Simplex, allowing users to buy bitcoin, ether, litecoin and XRP.

Credit cards image via Shutterstock