Thanks to collaboration with banking platform Mercuryo, Binance-backed altcoin project WOO X gains functionality for fiat payments.
Binance-powered altcoin adds support for fiat payments
WOO will offer such services to its consumers for the first time as part of an effort to increase user engagement by adding payment options. However, KYC is still required for fiat payments as well. Additionally, the decision comes at a time of uncertainty for the DeFi industry, which has been heavily impacted by the volatility of the cryptocurrency market.
WOO users can now purchase cryptocurrencies using their credit cards
WOO said that the platform will initially only allow MasterCard and Visa cardholders to purchase cryptocurrencies. Users can buy USDT using US dollars, euros, British pounds or Brazilian reals. The platform is in the process of expanding its merchant network and payment infrastructure to support both currencies. However, future versions will add support for direct wire transfers and other features. The platform hopes this will enable them to attract more customers from around the world. Meanwhile, Binance invested $12 million in WOO earlier this year, and the funds have been used to build more DeFi products.
Mercuryo is partnering with Binance, a Blockchain platform and the world’s largest cryptocurrency exchange, currently serving more than 120 projects and exchanges. This collaboration allows Binance users to purchase popular cryptocurrencies such as Bitcoin, Ethereum, and Tether using their debit cards.
GMT added to WOO Network list
Meanwhile, WOO Network’s native token rose almost 6% from its two-month low. At the time of writing, WOO is trading at an average of $0.424.
Additionally, WOO announced that users of Solana (SOL) based move-to-win app STEPN can now transfer GMT tokens directly to Solana via the platform. As we included in the cryptokoin.com analysis, the most appreciated altcoin in the previous 30 days was STEPN. With its giant metaverse launches, it’s trading at $3.78 at the time of writing, where it’s up more than 2,000% in the last two months.
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