Binance Pay, the cryptocurrency payment solution designed by Binance has partnered with xMoney, a leading Web3 payment provider in Europe to provide crypto access to 20,000 merchants worldwide. Binance confirmed the development in a blog post on its official X (Twitter) page on Monday.
According to the post, the integration of Binance Pay and xMoney eliminate the barriers in crypto payment by ensuring that both merchant and consumers have access to faster, cost-effective and user-friendly payment experience. With this, users enjoy secure and seamless array of services, further incorporating cryptocurrency into everyday transactions.
Binance Pay Global Head, Jonathan Lim has given his insight on the partnership. Lim pointed out that the partnership came at a crucial moment when cryptocurrency was being embraced in mainstream commerce and public service. He added that the ability to make payments with digital assests highlights how cryptocurrency is fast becoming a practical tool for daily transactions.
xMoney is well recognized for its extensive merchant network services which span various industries such as luxury retail, gaming, travel, real estate, and public services. In addition, the merchant also supports government clients such as the City of Lugano and the National Administration of the Principality of Liechtenstein.
The CEO of xMoney Global, Greg Siourounis has also reacted to the partnership. According to him, xMoney’s collaboration with Binance Pay plays a huge role in bridging the gap between blockchain and traditional finance. He added that the partnership will also offer users with more flexible alternatives in their transactions.
Binance Pay and xMoney partnerships complies with MiCA regulations
It is worth noting that the integration of xMoney with Binance Pay is in full compliance with the European Union MiCA regulations. As revealed, this focus on compliance provides users and merchants with a safe and secured environment for cryptocurrency transactions.
Meanwhile, Binance Pay has continuously joined offers with other firms to enhance its service offerings. In 2023, it collaborated with Picodi to offer cash back in form of USDT, BNB and BTC to users whenever they patronize online stores through Picodi.
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