Crypto exchange Binance has announced the launch of direct deposits and withdrawals in US dollars (USD) for users in more than 70 countries. This is stated in a press release shared with Incrypted.

The new service is implemented through BPay Global, a payment provider licensed by the Central Bank of Bahrain (CBB) and part of the Binance group of companies.

According to the statement, this allows retail and corporate users in the respective countries to deposit, store, and convert USD to cryptocurrencies and vice versa directly through their Binance fiat wallets.

USD deposits and withdrawals are now available via SWIFT bank transfers with zero deposit fees from Binance, as well as via bank cards, Apple Pay and Google Pay, the exchange said.

“After much anticipation, we are happy to offer our users direct on- and off-ramp solutions for USD, the most used currency for transactions around the world, which caters to our diverse global user base and their needs,” said Thomas Gregory, Binance VP of Fiat.

He added:

“Providing wider USD services allows us to further lower entry barriers to crypto with low costs and enhances the user experience within our platform known for its world-class security.”

The press release emphasized that BPay Global provides Binance users with a fiat e-wallet that allows them to store funds in a regulated financial institution and use them directly on the Binance platform to buy, sell or exchange crypto assets.

Representatives of the exchange noted that Binance’s mission is to expand financial freedom and provide access to digital finance around the world, using cryptocurrency as a key tool.