Binance Pay, a virtual currency payment platform powered by Binance, has announced a strategic partnership with xMoney, a Web3 transaction hub in Europe. Through this alliance, the two entities are making cryptocurrency payments secure and more seamless for everyone in Europe.
Expanding merchant payment network
XMoney has a broad merchant network that spans various industries, including real estate, travel, gaming, luxury retail, and public service. It also serves government clients such as the Liechtenstein National Administration and the City of Lugano, where locals can use cryptocurrency to pay for public services. This extensive merchant network has evolved to meet the growing interest in cryptocurrency use in businesses and public sectors across Europe.
The collaboration with Binance Pay is a significant development for xMoney, as it enables a seamless connection between traditional finance and the cryptocurrency world. By integrating its infrastructure into Binance Pay, xMoney expands its ecosystem and provides users with more trading options and flexibility in conducting day-to-day transactions.
xMoney prioritizes trust and regulatory compliance, ensuring a safe environment for Web3 accessibility and cryptocurrency transactions. It remains committed to adhering to the EU’s MiCa laws and emphasizes legal adherence.
This partnership allows Binance Pay users to access xMoney’s broad merchant network, enabling over 20,000 European businesses to accept cryptocurrency directly. This streamlines transactions across various industries, such as e-commerce, gaming, travel, and luxury goods.
As a result of this collaboration, Binance Pay’s network has experienced significant growth, onboarding 32,000 businesses worldwide. The partnership has also contributed to a remarkable 36% year-to-year growth for Binance Pay, attracting over 12,000 merchants by December 2024.
This continuous growth highlights Binance Pay’s commitment to providing innovative opportunities for crypto applications, including booking travels, purchasing luxury items, and conducting everyday transactions using cryptocurrency. These offerings align with the increasing demand for advanced, accessible, and real-world digital payment solutions.
Dismantling obstacles in crypto payments
Through this collaboration, the two firms offer a more affordable, rapid, and accessible payment experience for businesses and ordinary customers. Binance Pay users can now seamlessly access a wide range of Web3 and traditional products and services, integrating cryptocurrency into their everyday transactions.
This partnership is timely, as crypto assets are increasingly being adopted in traditional markets and even public services. The ability to pay for travel expenses, luxury items, and government services using cryptocurrency demonstrates its growing role as a common instrument for daily transactions.
By collaborating with xMoney, Binance Pay contributes to the advancement of blockchain technology and the provision of real-world applications to users. This helps meet the rising demand for accessible, seamless, and secure digital payment solutions.