Binance Pay, a virtual currency payment platform powered by Binance, has announced a strategic partnership with xMoney, a Web3 transaction hub in Europe. This partnership aims to make cryptocurrency payments more secure and seamless for everyone in Europe.
Under this alliance, Binance Pay and xMoney are working together to enhance the accessibility of cryptocurrency for over 20,000 merchants in Europe. The collaboration allows Binance Pay users to easily access xMoney’s broad merchant network, enabling European businesses to accept cryptocurrency directly. This simplifies transactions across various industries such as e-commerce, gaming, travel, and luxury goods.
xMoney’s merchant network covers a wide range of industries, including real estate, travel, gaming, luxury retail, and public service. It even supports government clientele, allowing locals in places like Liechtenstein and Lugano to use crypto for public services. This extensive merchant network, powered by xMoney, has evolved to meet the growing interest in cryptocurrency use in business premises and public sectors throughout Europe.
The partnership between xMoney and Binance Pay is a significant development as it creates a seamless connection between traditional finance and the cryptocurrency world. By integrating xMoney’s infrastructure into Binance Pay, users have access to higher trading options and greater flexibility in conducting day-to-day transactions.
Both xMoney and Binance Pay prioritize trust and regulatory compliance. xMoney adheres to the EU’s MiCa laws and emphasizes legal compliance to ensure a safe environment for Web3 accessibility and cryptocurrency transactions. This commitment provides peace of mind for customers and merchants using xMoney.
The collaboration between Binance Pay and xMoney has led to significant growth in Binance Pay’s network. Recently, it onboarded 32,000 businesses worldwide, indicating the success of this alliance. In just one year, Binance Pay attracted over 12,000 merchants, resulting in an impressive 36% year-to-year growth.
This continuous growth demonstrates Binance Pay’s commitment to providing innovative opportunities for crypto applications. Users can now book travels, purchase luxury items, and access various everyday transactions using cryptocurrency. These innovative offerings align with the increasing demand for advanced, accessible, and real-world digital payment solutions.
The partnership between Binance Pay and xMoney aims to dismantle obstacles in crypto payments. Together, they offer a more affordable, rapid, and accessible payment experience for businesses and ordinary customers. Binance Pay users can seamlessly access a wide range of Web3 and traditional products and services, allowing them to integrate cryptocurrency into their everyday transactions.
This collaboration is essential as crypto assets are increasingly being adopted in traditional markets and even public services. The ability to pay for travel expenses, luxury items, and government services using cryptocurrency is evidence of its growing use in daily transactions.
By collaborating with xMoney, Binance Pay helps advance the use of blockchain technology to provide real-world applications to users. This partnership fulfills the growing demand for accessible, seamless, and secure digital payment solutions.