Binance Pay Partners with xMoney to Enhance Crypto Payment Accessibility in Europe – BitRss

Binance Pay has announced a strategic partnership with xMoney, a prominent Web3 payment provider in Europe. This collaboration aims to simplify cryptocurrency payments for luxury goods, travel, gaming, and public services, enabling over 20,000 businesses in xMoney’s merchant network to accept cryptocurrency directly. The partnership expands Binance Pay’s global merchant network to over 32,000 businesses, promoting secure and innovative payment solutions.

Operating under the EU’s Markets in Crypto-Assets (MiCA) regulations, xMoney ensures a compliant and secure environment for cryptocurrency transactions. This partnership is set to redefine the crypto payment landscape by connecting Binance Pay users to xMoney’s extensive merchant network, streamlining transactions across various industries.

Breaking Barriers in Crypto Payments

The partnership between Binance Pay and xMoney promises a faster, cost-effective, and user-friendly payment experience for both consumers and merchants. Binance Pay users can now seamlessly access a wide array of services and products, further integrating cryptocurrency into everyday transactions.

Jonathan Lim, Global Head of Binance Pay, emphasized the partnership’s significance, stating that it comes at a pivotal moment when cryptocurrency is being embraced in mainstream commerce and public services. Lim noted that the ability to pay for luxury goods, travel, and government services with crypto demonstrates the practical use of digital currencies in everyday transactions.

A Diverse Merchant Network

xMoney’s extensive merchant network spans industries such as luxury retail, gaming, travel, real estate, and public services. The network includes government clients like the City of Lugano and the National Administration of the Principality of Liechtenstein, where citizens can pay for public services using cryptocurrency. This diverse network highlights the growing adoption of crypto across commercial and public sectors throughout Europe.

Greg Siourounis, CEO of xMoney Global, commented on the partnership, stating that integrating Binance Pay is a significant step in bridging blockchain and traditional finance. By expanding their ecosystem, xMoney offers users more flexibility and choice in transactions.

Advancing Crypto Adoption with Compliance and Growth

With this partnership, Binance Pay’s merchant network has grown to over 32,000 businesses globally, marking a significant milestone in its development. This expansion builds on a 36% year-over-year growth, reflecting Binance Pay’s dedication to enabling diverse opportunities for cryptocurrency use, from booking travel to purchasing luxury goods.

Binance Pay is a contactless, borderless, and secure cryptocurrency payment feature available on the Binance App. It supports over 300 cryptocurrencies for peer-to-peer payments and more than 90 for merchant payments, serving millions of users and thousands of merchants globally.

For more details, the announcement can be found here.

Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.

The post Binance Pay Partners with xMoney to Enhance Crypto Payment Accessibility in Europe appeared first on CoinsHolder.