Binance Pay teamed up with xMoney to widen cryptocurrency payments in Europe. With its integration, over 20,000 stores will become payable through Binance Pay, making cryptocurrency payments easier.
Luxury, travel, gaming, and e-commerce companies can now receive cryptocurrencies directly. This increases payment velocity, lowers payment expenses, and simplifies payment processes.
Users of Binance Pay have additional options, and cryptocurrencies become even more part of everyday life. According to Global Head of Binance Pay, Jonathan Lim, it is an important development with digital currencies becoming the payment norm.
Lim said:
This collaboration between Binance Pay and xMoney comes at a pivotal moment when cryptocurrency is being embraced in mainstream commerce and public services. The ability to pay for luxury goods, travel, and even government services with crypto demonstrates how digital currencies are becoming a practical tool for everyday transactions.
xMoney’s network includes luxury brands, real estate firms, and government clients. Citizens in Lugano and Liechtenstein can now pay for public services with crypto. This shows the rising acceptance of digital currencies in Europe.
CEO of xMoney, Greg Siourounis, emphasized the impact of this deal:
Partnering with Binance Pay is a significant step in building the bridge between blockchain and traditional finance. By integrating Binance Pay, we’re expanding our ecosystem and offering our users even more flexibility and choice in how they transact.
Operating under the MiCA regulatory regime of the EU, xMoney promotes a secure and compliant environment for cryptocurrencies transactions. Regulatory compliance in such a manner instills trust between companies and users, spurring additional use cases.
With this integration, the Binance Pay merchant base stands at over 32,000 worldwide, with a 36% annual expansion, and continues to expand its presence in offering secure and convenient payments with cryptocurrencies, in consideration of increased demand for convenient and accessible payment channels.
