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Binance Announces an Official Fiat-to-Crypto Payments Provider

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Binance logo on the screen smartphone and display notebook closeup.

Leading crypto exchange Binance has launched a fiat-to-crypto payments provider, Bifinity, to enable entities to become “crypto-ready.”

Source: Binance

BNBUSD is up +0.80%.

Binance says the new feature will allow businesses to transfer funds directly, with Bifinity supporting at least 50 digital assets and all major payment modes that include Visa and Mastercard.

The crypto exchange says merchants can employ the “simple, intuitive, and seamless API integration” to tilt their businesses for digital asset payments.

The exchange aims for “mass crypto adoption” through the launch of Bifinity, promising low transaction fees for customers and a top-tier KYC onboarding process.

The new venture has collaborated with other companies such as Paysafe for an “embedded finance solution.”

Binance says the parties involved will expand the service into Latin America, while Bifinity aims to integrate Paysafe’s card processing service to Europe and the UK by the end of the year.

 

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