Crypto exchange Binance has just announced via its blog site, the launch of a payments solution firm Bifinity. According to the announcement, Bifinity will serve as the official fiat-to-crypto payments provider for Binance and other blockchain platforms.
Bifinity To Support Over 50 Merchants Worldwide
While powered by Binance, the payments technology Bifinity bridges the gap between merchants, businesses, and millions of users around the world of crypto and blockchain.
The Bifinity’s APIs is built in an intuitive way, such that merchants can now start accepting crypto payments. Not only that however, consumers will also have more access to buy or sell crypto.
Meanwhile, according to Helen Jai, President of Infinity:
As the crypto and the Web3 economy continue to grow, we see greater demand to build improved fiat-to-crypto on-ramps to bridge the gap between the traditional finance industry and the decentralized and centralized crypto economy. At Binance, the vision is to increase the freedom of money globally. With the launch of Bifinity, we aim to accelerate mass crypto adoption.
Interestingly, Bifinity will be supporting at least 50 cryptocurrencies and common payment methods like MasterCard, VISA and more.
Building Web 3.0 with Payment Leaders
Without doubt, cryptocurrencies will eventually power the Web 3 economy. However, Bifinity in its own effort towards the advancement of Web3, will be partnering with Paysafe and Checkout.com — a leading global payments processor. This is all in a bid to bolster crypto adoption and access on the global front. Also, more users will be able to buy and sell crypto.
Meanwhile, by reason of these partnerships, Bifinity will also be able to upgrade its on-ramp payment processing infrastructure. This means that sometime in the near future, Bitfinex will also be able to integrate enhanced fraud detection and effect payment transactions.
Additionally, Paysafe will also help Bifinity to have a sort of pre-knowledge of the regulations surrounding fiat-to-crypto payments.
More importantly, Bifnity’s partnership with Paysafe will open a pathway for its expansion into Latin America. And in this region, it already boasts of a market-leading real time payments service.
Also for the UK and Europe, Bifinity will be integrating Paysafe’s card processing service in the coming months. But for the NFT space, Bifinity will launch NFT checkouts soon. This will allow users to buy NFTs across different platforms, merely by linking their DEX wallets.