Binance Pay Partners with xMoney to Expand Crypto Payments in Europe
Key Highlights:
- Binance Pay collaborates with xMoney to enhance crypto payment services across Europe.
- The partnership aims to expand Binance Pay’s merchant network.
- The alliance ensures a secure and regulated environment for cryptocurrency transactions.
Binance Pay Strengthens Its Presence in Europe with xMoney Partnership
In a strategic move, Binance Pay, the payment division of Binance, has teamed up with xMoney, a blockchain-based payment solutions provider. This partnership aims to improve crypto payment accessibility for customers throughout Europe.
By joining forces, Binance Pay and xMoney are expanding their global merchant network to over 32,000 businesses, with xMoney ensuring compliance with the European Union’s MiCA regulations. This collaboration is expected to drive secure and innovative payment solutions, further establishing Binance Pay as a key player in the global digital payment sector.
Expanding Binance Pay’s Merchant Network
Binance announced the partnership in an official blog post, highlighting how xMoney’s advanced payment infrastructure will connect Binance Pay users with a vast network of merchants. The goal is to cater to the increasing demand for fast, secure, and convenient crypto transactions.
Jonathan Lim, Global Head of Binance Pay, emphasized the significance of this collaboration, stating:
“This partnership comes at a crucial time when cryptocurrency is becoming more integrated into mainstream commerce and public services. From luxury goods to travel and even government payments, crypto is proving to be a viable option for everyday transactions.”
The alliance is also set to strengthen Binance Pay’s merchant ecosystem. xMoney already supports payments across various industries, including luxury retail, gaming, travel, real estate, and public services. With this partnership, Binance Pay can further extend its reach, helping businesses and consumers embrace digital assets.
Driving Innovation and Compliance
Through this collaboration, Binance Pay’s merchant network has grown to over 32,000 businesses worldwide, marking a major milestone in its expansion. Binance Pay has also reported a 36% year-over-year growth in its payment ecosystem, demonstrating increasing adoption.
Greg Siourounis, CEO of xMoney, highlighted the benefits of the partnership, stating:
“Teaming up with Binance Pay is a crucial step in bridging blockchain technology with traditional financial systems. This collaboration will provide users with greater payment flexibility and further drive crypto adoption.”
Meanwhile, Binance has been undergoing strategic shifts, including the recent rebranding of Binance Labs to YZi Labs, signaling a renewed focus on investments and innovation beyond the core Binance brand.
Ensuring Security and Regulatory Compliance
As xMoney operates in full compliance with the EU’s MiCA regulations, this partnership ensures a highly secure and regulated environment for crypto transactions. Given Binance’s ongoing scrutiny by regulators, this collaboration reinforces its commitment to compliance and transparency.
With cryptocurrency adoption on the rise, this alliance between Binance Pay and xMoney could play a pivotal role in advancing digital payments across Europe, making crypto transactions more mainstream and accessible.
