To increase the accessibility of purchasing cryptocurrencies, Binance and Ledger have formally partnered. A renowned manufacturer of hardware wallets and one of the biggest bitcoin exchanges have joined forces.
The action made public today places more focus on the rising practicality of trading and keeping cryptocurrency. The CZ lead crypto exchange has developed the Web3 ecosystem by fusing the two consumer bases with the Ledger collaboration.
The agreement, which was just announced, aims to increase Binance’s accessibility while also extending its reach. The two businesses’ compatibility was started with the intention to “…make crypto available to as many people as possible,” according to a statement made by Binance.
The recently made public arrangement enables Ledger bank card holders to directly purchase cryptocurrencies on the CZ lead exchange. The coins are subsequently sent over a secure Ledger device directly to their blockchain address. What’s more intriguing is that Ledger users can now open a Binance account using the Ledger Live program.
The desktop and companion apps for Ledger Live already include Binance. Ledger Live customers can acquire more than 80 different cryptocurrencies in addition to 10 different languages.
Users now have the freedom and convenience to purchase digital assets using fiat currency thanks to this partnership. Through the Ledger established system, the collaboration is embracing a new sort of accessibility.
Binance To Become A Bridge Between Banks And Crypto?
According to an interview given to Bloomberg at the Web Summit conference in Lisbon, Binance founder, and CEO Changpeng Zhao (CZ) is considering perhaps purchasing banks as a means of bridging the gap between the worlds of traditional finance and cryptocurrencies.
CZ said he’s open to either a full acquisition or a minority investment but did not mention any specific prospects. He further stated,
“There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. We’re looking at those things.”
CZ added that investing in banks is a wise move for Binance since when the cryptocurrency exchange partners with a bank, the exchange frequently attracts a large number of new customers, raising the bank’s value.