Customers of major crypto exchange Binance can now purchase crypto directly using debit and credit cards via payment processing firm Koinal. 2.5% fee for buying crypto from Visa and MasterCard Binance users can now buy crypto using their Visa and MasterCard debit and credit cards, the company announced in a blog post on Sept. 25. Using Koinal, Binance clients are able to buy five cryptocurrencies including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), XRP and Bitcoin Cash ABC (BCHABC), the post notes. The London-based payment processor charges 2.5% per transaction, with the purchased assets on average taking five to 20 minutes …

Crypto lending firm Nexo has paid its token holders a total of $2,409,574.87 in dividends, reaching an annualized dividend yield of 12.73%. Nexo announced the completion of its dividend payments in a press release on Aug. 16. According to the press release, Nexo has a user base of over 250,000. Moreover, Nexo’s dividend yield is purportedly higher than every dividend-paying stock listed on the S&P 500 market index. Nexo apparently pays out its total dividend in two parts — 50% comes from the Nexo Base Dividend and the other 50% from the Nexo Loyalty Dividend. Nexo claims that its model …

According to the Apple Card Customer agreement, users will not be permitted to buy cryptocurrencies using the company’s upcoming credit card service. Goldman Sachs published the agreement on July 2, according to a report by Reuters on the same day. As per the report, American tech giant Apple is releasing the Apple Card in partnership with investment banking company Goldman Sachs as part of a broader business plan to bring in more revenue through service offerings. According to the card’s customer agreement, cryptocurrency purchases fall under the heading of cash advances or cash-like transactions: “‘Cash Advance and Cash Equivalents’ means …

Southern District of New York Judge Katherine Polk Failla has ruled that purchasing cryptocurrency with a Chase Bank credit card does not necessarily count as a cash advance, as per Chase’s contract. According to an opinion and order document dated August 1, Judge Failla has denied Chase’s motion to dismiss a number of the plaintiff’s complaints, which center on the bank charging a user cash advance fees for buying cryptocurrency with a Chase credit card. The plaintiffs are Brady Tucker, Ryan Hilton and Stanton Smith, who have brought a class action suit against banking giant Chase. In the document, Failla …

South Korea’s leading credit card firm Shinhan Card has been granted a patent for a blockchain payments system, English-language local media The Korea Times reports on July 15. Per the report, with the newly patented technology the company has established a blockchain-powered credit transaction process allowing for setting spending limits, paying in monthly installments and carrying out payments. The outlet quotes an anonymous Shinhan Card official commenting on the development: “Services using those key functions of credit cards will be extended to the blockchain-based system, a notable advancement from the status quo whereby most blockchain-based services available are limited to …

Major cryptocurrency exchange Poloniex announced that it now allows its customers to use credit cards and bank accounts on the platform in a Medium post published on July 9. Per the release, exchange users from 80 countries can now directly move funds to and from their bank accounts, which will be automatically converted into stablecoin USD Coin (USDC) on Poloniex. Initially, the weekly limits are $50,000 for deposits and $25,000 for withdrawals, but the exchange admits that those limits can be increased to fit the needs of specific customers. Customers in more than 60 jurisdictions will be able to purchase …

A crypto-focused payment platform says it is aiming to reduce financial pressures on everyday consumers by enabling them to receive their salaries early — whenever they demand it. JobCoin says a startling number of hard-working individuals are falling victim to loan sharks and high-interest loans, or racking up unsustainable credit card bills as they try to grapple with sudden expenses. The startup’s concept means workers can request to be compensated for the hours they have already completed, even if their normal payday is a few days or weeks in the future. Explaining its objectives in its white paper, the company …

A federal jury has convicted two Romanian alleged cybercriminals of spreading malware to steal credit card credentials and illicitly mine cryptocurrency, an announcement from the official website of the United States Department of Justice revealed on April 11. The malware allegedly spread by the suspects was reportedly used for cryptojacking and to steal credit card and other data that the suspects would have sold on darknet markets and used to engage in online auction fraud. As the Justice Department press release reports, Bogdan Nicolescu, 36, and Radu Miclaus, 37, were convicted after a 12-day trial. The two individuals were charged …

Singapore-based crypto exchange KuCoin has partnered with Israel-based payment processing company Simplex to let its users purchase crypto via credit card, an official announcement revealed on March 27. The exchange has already added the service to its assets page, the announcement reports. Now users can purchase Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash ABC (BCHABC) and Litecoin (LTC) for both dollars and euros. The service is reportedly available in more than 100 countries. As the release notes, Simplex — which also has offices in the United Kingdom, U.S. and Lithuania — has already provided its “fraud-free” payment processing services …

The official wallet of leading cryptocurrency exchange Binance, Trust Wallet, has added support for credit card purchases and Ripple’s XRP token. The company announced the new features in a press release shared with Cointelegraph on March 12. Trust Wallet was acquired by Binance in July of last year in the exchange’s first public acquisition. According to the press release, users can now send, receive, store and exchange XRP via Trust Wallet. According to the wallet’s official website, Trust Wallet also supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), among others, and as well as any ERC20, ERC223 …

San-Francisco-based bank Wells Fargo has announced that it will no longer allow its customers to purchase cryptocurrency using its credit cards, Fortune reported June 11. Wells Fargo, which is the third largest bank by assets in the US, said that its customers are now prohibited from purchasing digital currency on their credit cards issued by the financial institution. A bank spokesperson said that the decision was made in order to avoid “multiple risks” associated with cryptocurrency usage: “Customers can no longer use their Wells Fargo credit cards to purchase cryptocurrency. We’re doing this in order to be consistent across the …

The former head of Visa in the UK and Ireland has joined a startup bringing crypto to consumer payments, Business Insider NL reports today, May 19. Marc O’Brien, who worked for Visa between 2008 and 2014, has recently joined crypto consumer payment startup Crypterium, which aims to make it possible to spend crypto in everyday situations, Business Insider reports. Speaking on the importance of crypto adoption as a medium of exchange, O’Brien told Business Insider: “The idea is that cryptocurrency is actually quite difficult today to use as an everyday method of payment. If you were to go to an …