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While crypto exchange Binance is currently in a legal battle with regulators in the US, it is expanding the scope of its subsidiary products. Binance Pay, launched in 2021 to facilitate payments for crypto investors, is now available in Brazil.
Latest News on Binance Pay
Binance has introduced Binance Pay in Brazil. According to the recent announcement, Binance customers can now make crypto payments at partner businesses. Binance Pay is a crypto payment method that supports over 70 cryptocurrencies, including BTC, ETH, and USDT. Users can make payments without any fees, while businesses can accept payments using a secure solution that transfers funds from wallet to wallet within seconds. Brazilian businesses can receive payments in Brazilian Real or directly in crypto to their wallets.
Guilherme Nazar, the General Manager of Binance in Brazil, stated:
“Payments are one of the most popular use cases for crypto adoption. Companies and businesses can now benefit from the high transaction speeds and low costs provided by Binance Pay. We believe this launch will bring great advantages to businesses in Brazil.”
According to a Deloitte survey, about three-quarters of consumer businesses in the US plan to accept crypto payments by the end of 2023, and 87% agree that it will give them a competitive advantage.
Binance Pay has reached over 12 million active users since its initial launch in 2021 and has processed payment volumes exceeding $98 billion to date.
