The world’s biggest cryptocurrency exchange by trading volume is Binance. The exchange has recently announced that both debit and credit card payments for cryptocurrencies are now available thanks to a partnership with the fully licensed financial institution offering online fraud protection, Simplex.

Users of Binance have now been presented with the opportunity to buy Bitcoin, Ethereum XRP and Litecoin through Visa and MasterCard debit or credit cards. As reported by Bitcoinist, this process can usually take up to as much as 30 minutes. You can see Binance announce the news through Twitter below:

The move to accept debit and credit card payments is just one part of Binance’s long-term focus to increase adoptions and accessibility of cryptocurrencies for a mainstream audience. Binance founder and CEO, Changpeng Zhao said:

“We want to provide Binance traders with fast and easy access to crypto, in the most secure way possible. Partnering with Simplex allows us to instantly bridge the gap between credit card payments and crypto for traders globally. On Binance.com, you can now buy crypto with credit cards and start trading in minutes.”

The CEO and co-founder of Nimrod Lehavi has a similar outlook saying:

“Easy and fast credit card payments, for mainstream users, is a key factor in wider adoption of crypto in general. We’re thrilled to partner up with Binance and together enable a much better, fast and easy experience.”

It’s worth highlighting that buying digital currencies through Binance through Simplex is subject to local bank policies.

The partnership with Simplex comes after Binance launched support for the euro and British sterling through the exchange. CZ sees the construction of fiat gateways as critical to facilitating mainstream adoption of crypto and cryptocurrency trading saying:

“The crypto industry is still in its early stages and most of the world’s money is still in fiat. Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users.”

What are your thoughts? Let us know what you think down below in the comments!