Barely a month after its September debut, Binance’s San Francisco-based unit has made serious inroads in the U.S.
According to The Block, Binance.US has allowed clients to make deposits through their debit cards.
The company announced debit card support on Friday, allowing users to purchase crypto assets such as bitcoin (BTC), Ethereum (ETH), and Ripple XRP (XRP) through debit card deposits. Prior to the move, clients could only purchase coins via ACH payments and wire transfers.
Customers’ dollar deposits are also eligible for FDIC insurance, said the firm, since they’ll be pooled into custodial bank accounts.
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.”
Interestingly enough, Binance.US’ latest on-ramp comes as trading volume reaches new highs. Crunching the numbers, The Block estimates that trading on the exchange has surged to over $15 million a day – a tenth of Coinbase’s average daily volume but a new high for the five week old company.