Binance Launches its very own Fiat-to-Crypto Payments Provider 14

Binance Launches its very own Fiat-to-Crypto Payments Provider

Quick take:

  • Binance has launched its official fiat-to-crypto payments provider
  • Known as Bifinity, the platform will be powered by Binance
  • Bifinity has partnered with EQONEX, a Nasdaq listed crypto exchange
  • Bifinity has also partnered with Safepal and Zilliqa to offer fiat on and off-ramp solutions to their user base
  • The payments platform has also partnered with Paysafe and

The popular crypto exchange of Binance has launched its very own fiat-to-crypto payments provider known as Bifinity.

Powered by Binance, Bifinity will be the official fiat-to-crypto payments provider that will connect businesses, merchants, and millions of crypto users around the world. Merchants and businesses will have the additional benefit of using Bitinity’s intuitive APIs to get their establishments crypto ready to start accepting crypto payments.

Bifinity will support over 50 cryptocurrencies and major fiat payment methods such as VISA and Mastercard. The fiat-to-crypto payments platform will ‘partner with leading crypto wallet providers and blockchain platforms, including Safepal and Zilliqa, to offer fiat on and off ramp solutions for their user base.’

Furthermore, Bifinity has entered a strategic partnership with EQONEX Limited – a Nasdaq-listed crypto exchange. Through this partnership, Bifinity will advance a $36 Million convertible loan to EQONEX and collaborate with the exchange to capitalize on opportunities to expand the business.

Additionally, Bifinity has partnered with Paysafe and to grow the Web3 economy by bringing crypto to a global audience in a safe manner.

Plans to Expand to Latin America, UK and Europe

With respect to the next steps for Bifinity, the payments platform will collaborate with Paysafe to expand into Latin America. This move is meant at capitalizing on the rapid crypto adoption in the region led by El Salvador.

Bifinity will soon integrate Paysafe’s card processing service to penetrate the UK and European markets.

There are also plans of Bifinity launching NFT checkouts which will allow users to buy non-fungible tokens across different platforms by linking their DEX wallets.