Binance’s Trust Wallet Now Allows Users to Buy Cryptos with Credit Cards

Trust Wallet, the official wallet of cryptocurrency exchange Binance, now allows users to buy cryptocurrencies with credit cards.

Binance announced March 12 that the new payment option is being offered in collaboration with Simplex, a payment processor based in Israel.

The exchange stated that Trust Wallet is also adding support for XRP, the third biggest cryptocurrency in terms of market capitalization.

As a result, Trust Wallet users can now purchase XRP, litecoin (LTC), bitcoin (BTC), ether (ETH), and bitcoin cash (BCH) with “major” credit and debit cards. The announcement did not stipulate which cards are supported. It also did not disclose details such as fees.

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

“Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.”

Binance acquired Trust Wallet in July 2018. At the time, the wallet only supported ethereum and ethereum-based tokens.

According to Tuesday’s announcement, the exchange since then has allowed support for multiple cryptocurrencies and presently supports 17 tokens and “hundreds” of decentralized apps or dapps.

Furthermore, Binance stated that Trust Wallet will be a native wallet to its forthcoming decentralized exchange, dubbed Binance DEX, which is slated to roll out in the early second quarter of this year. On February 20, the platform launched for public testing.

The exchange added support last January for credit card purchases, also in collaboration with Simplex, letting users buy ether, bitcoin, XRP, and litecoin.