Binance Launches PayTech Bifinity

Global Cryptocurrency Exchange Giant Binance Introduces Bifinity, a fiat-to-crypto payment technology (PayTech) provider, according to a press release on Monday, March 7.

Bifinity aims to empower businesses with the tools to embrace crypto with in-and-out solutions that make it easy to reach new audiences with simple and straightforward fiat-to-crypto transactions. Right off the bat, users can easily, quickly, and securely buy and sell over 50 cryptocurrencies.

Bifinity has also partnered with EQONEX, the first publicly traded digital asset company in the United States. Under the terms of the partnership, Bifinity will provide a $36 million convertible loan to EQONEX as they both collaborate on new opportunities and work to grow their businesses.

See also: FCA ‘concerned’ about Binance’s access to UK payment network

Additionally, Bifinity has formed a partnership with payment platform Paysafe and global payment processor Checkout.com to grow the Web3 economy through global crypto access and secure buying and selling.

“As the crypto and Web3 economies continue to grow, we are seeing increased demand to build improved fiat-to-crypto on- and off-ramps to bridge the gap between the traditional financial sector and the crypto economy. decentralized and centralized,” Helen said. Hai, president of Bifinity. “Binance’s vision is to increase freedom of money globally and through the launch of Bifinity, and with these strategic partnerships with EQONEX, Paysafe and Checkout.com, we aim to accelerate the mass adoption of the cryptography.”

Read more: Binance and OKX reject calls to ban Russian crypto transactions

With APIs that require minimal expertise, merchants and businesses can seamlessly integrate Bifinity’s services and offer their customers access to crypto transactions.

Chi-Won Yoon, Chairman of EQONEX, said Bifinity shares his view of facilitating the connection of legacy finance with crypto, as well as his “belief to operate under the highest standards of investor protection, regulatory oversight, security and governance”.

Yoon added that the collaboration with Bifinity is a “significant opportunity” to expand its presence and offerings for the benefit of the company’s customers and shareholders.

You can also take advantage of: Binance will not accept cards from sanctioned Russian banks on the crypto platform

“We expect global e-commerce to continue to outpace the growth of traditional commerce, especially with the adoption of cryptocurrencies and NFTs,” said Max Rothman, vice president of crypto at Checkout.com. . “Our payment rails already power the world’s leading crypto exchanges, accounting for nearly 80% of global trading volume. And that’s why our foundational partnership with Bifinity and the Binance platform is so important. Together, we’re lowering the barrier to entry for merchants to accept and make their first cryptocurrency transactions, and allow them to seize the great Web3 opportunity before them.

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