According to the announcement from Binance, the platform is set to enhance its USD solution, enabling a 1:1 exchange rate for USD to XUSD transactions with zero spread. This upgrade will be accessible to both VIP and non-VIP corporate users who have completed Know Your Business (KYB) verification in select jurisdictions. The new feature allows these users to buy and sell XUSD, USDT, and USDC using USD via SWIFT Bank Transfer.
The key benefits of this upgrade include a 1:1 exchange rate for transactions ranging from $1 to $10 million, providing users with a cost-effective way to manage their digital assets. Additionally, the upgrade offers wide stablecoin access, simplifying the process of buying and selling XUSD, USDT, and USDC. Users can also expect bank-level security, as USD transfers will be conducted through trusted top-tier banking partners. The integration with SWIFT ensures reliable and fast transactions for both buying and selling.
Binance notes that this service may be gradually rolled out to more regions, with further updates to be provided as the service expands. Users interested in utilizing this feature are required to complete KYB account verification to access the service. The announcement emphasizes that the service is currently available only in select jurisdictions, and users should stay informed about future expansions. The platform aims to provide a seamless and secure experience for corporate users engaging in USD to stablecoin transactions.
