Binance has launched Binance Pay, a payment technology that allows to send and receive payments in cryptocurrency all over the world. Cryptonews.com reports that the platform’s launch was quiet, and it is now operating in beta.
According to the source, the service now supports euros, Bitcoin, Ethereum, Binance Coin, Binance USD, and Swipe. Cryptonews.com quotes Binance’s CEO Changpeng Zhao, who says that the payment technology will allow its users to avoid converting crypto into fiat currencies while paying or receiving payments.
Users who already have an account on Binance.com can set up a Binance Pay account through the Binance App. They will need to create a nickname unless they already have one on Binance.com. Then, it is necessary to set up a password, choose a currency list for the wallet, and fund the wallet. In addition, clients who already use Binance Card will have the same wallet for both services.
Binance introduced its crypto card in April 2020. With Binance Card, users can spend crypto on online and offline purchases instead of using traditional currencies. Binance is a leading cryptocurrency exchange, ranking first based on trading volume, traffic, and liquidity on CoinMarketCap. It has a 24-hour trading volume of over $23 billion at the time of writing.