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MoonPay Offers Binance.US a Solution to Crypto Payments Suspension
The U.S. exchange's customers now have the option of buying stablecoin USDT using their debit or credit cards, Apple Pay and Google Pay and converting it into crypto tokens.
Updated Aug 23, 2023, 9:59 a.m. Published Aug 23, 2023, 8:57 a.m.
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- 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 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.
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"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.
The exchange's 24-hour trading volume is now about $10.5 million according to CoinGecko data, compared with Coinbase's roughly $1.15 billion and Kraken's $500 million. Binance.US, however, operates only in the U.S. while the other two trade worldwide.
Binance.US claims to be independent of Binance, the largest crypto exchange by volume traded, though Binance founder Changpeng "CZ" Zhao also serves as the chairman of Binance.US. Zhao reportedly came close to shutting the U.S. offshoot following the heightened regulatory scrutiny.
Binance.US did not immediately responded to CoinDesk's request for comment.
Read More: Binance to Shut Down Crypto Payments Service Amid Refocus On Core Products
UPDATE (Aug. 23, 09:59 UTC): Adds statement from MoonPay; removes headline attribution to Bloomberg.
Lebih untuk Anda
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Yang perlu diketahui:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Agora's Nick van Eck bets on stablecoin boom in enterprise payments
Agora CEO Nick van Eck sees stablecoin adoption shifting to real-world business for cross-border payments.
What to know:
- Agora, founded by Nick van Eck, is shifting its focus from DeFi growth toward using its AUSD stablecoin for enterprise payroll, B2B and cross-border payments.
- Van Eck argued that traditional companies will adopt stablecoins slowly due to infrastructure, policy and education gaps, but sees the biggest gains in replacing costly, pre-funded cross-border payment systems.
- He said he expects corporate-controlled chains like Circle's Arc, Coinbase's Base and Stripe's Tempo to dominate as the market consolidates, and aims for Agora to become a top-five global stablecoin issuer by building tools that feel more like bank accounts than crypto.
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