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Binance establishes fiat and cryptocurrency payment company

Binance establishes fiat and cryptocurrency payment company

The official payment provider has been named Bifinity. The new company has already partnered with various platforms and financial institutions, including Visa and MasterCard. 

Why is it so important? 

  • The company will assist clients in paying for goods using cryptocurrencies
  • It will consolidate the company in the crypto services market. 

The official Bifinity blog page reported that the new platform supports more than 50 crypto assets, including the most well-known cryptocurrencies such as Bitcoin and Ethereum. Moreover, alongside Visa and MasterCard, there are partnership agreements with EQONEX, Safepal, Zilliqa, and Checkout.com. 

To attract customers, Bifinity promises low fees when processing payments, as well as a simple and intuitive API integration for sellers. 


Binance

Binance is the world's largest cryptocurrency exchange in terms of trading volume (about $2 billion daily). It was founded in 2017 by Changpeng Zhao, and in a couple of years, it has grown into an entire blockchain ecosystem representing the whole spectrum of cryptocurrency products and services. These include a decentralized exchange (Binance DEX), a public blockchain with fast execution (Binance Chain) with an add-on for smart contracts and Ethereum support (Binance Smart Chain), an infrastructure development fund (Binance Labs), an information website (Binance Info), a training center (Binance Academy), a research center (Binance Research), and a nonprofit organization for achieving sustainable development goals (Binance Charity Foundation).       

Trading volume: $27.9 billion.

Number of trading pairs (markets): 1643

Legal status: registered in the Cayman Islands

Fiat currencies: over 43 (including USD, EUR, CAD)

 

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