- Binance Pay integrates with xMoney, linking merchants to 20k+ businesses for crypto payments.
- The partnership boosts crypto adoption in luxury, travel, gaming, and e-commerce industries.
- Binance Pay expands its reach to 32,000+ merchants, driving seamless and secure transactions.
Binance Pay has agreed to integrate with xMoney, Europe’s largest Web3 payment solutions company. This integration enables the Binance Pay merchants to interact with over twenty thousand companies, boosting the number of crypto transactions, especially in sectors like luxury, travel, gaming, and e-commerce.
The alliance enhances payment solutions by providing more efficient, cheaper, smoother, and easier payments for merchants and consumers. With Binance Pay, xMoney adds solutions to its payment repertoire, allowing businesses to accept digital assets without any issues. This move further extends the applicability of digital currencies in the market with applied usage.
Mainstream Adoption Grows
According to Jonathan Lim, the Global Head of Binance’s payment arm, Binance Pay, such collaborations are crucial for the industry to integrate fully with mainstream commerce. He identified its usage in luxury goods purchases, traveling, and paying for public utilities as signs of gaining acceptance. Cryptocurrencies are slowly making their way to the real world, which indicates that they are gradually becoming a valid payment type. Highlighting Binance Pay’s ability to use the blockchain for enhanced payments, Lim said,
This collaboration between Binance Pay and xMoney comes at a pivotal moment when cryptocurrency is being embraced in mainstream commerce and public service.
According to Greg Siourounis, the CEO of xMoney, it is an attempt to combine blockchain and conventional finance channels. He said that integrating Binance Pay increases users’ freedom to engage in various transactions. Most firms have accepted digital currencies for their products and services in most industries.
Related: Binance Under Investigation in France: Legal Troubles Deepen
xMoney is not just limited to commercial business entities but also for government services. While Lugano accepts cryptocurrencies, the National Administration of the Principality of Liechtenstein uses digital asset payments for service delivery.
Merchant Network Growth
With Binance’s merchant solution growth, over 32,000 merchants have increased worldwide, by which the audience has expanded by 36%. With crypto as a payment option, businesses are widely adopting digital currency, to be used in global markets.
