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Binance‘s cryptocurrency payment service, Binance Pay, has entered into a partnership with leading European Web3 payment provider, xMoney. This collaboration allows Binance Pay users access to xMoney’s extensive commercial network, enabling over 20,000 businesses to accept direct cryptocurrency payments. This initiative aims to streamline transactions in sectors such as luxury goods, travel, gaming, and e-commerce.
A New Era in Cryptocurrency Payments
The partnership between Binance Pay and xMoney is set to integrate cryptocurrency usage into daily life. Users will have the ability to purchase services and products from a broader range of businesses using Binance Pay.
Jonathan Lim, Global President of Binance Pay, emphasized the significance of this partnership, stating that it marks a major step toward the acceptance of cryptocurrencies in mainstream commerce and public services. Luxury items, travel, and even government services can now be paid for using cryptocurrency, showcasing the practicality of digital currencies in everyday life.
Expanding Commercial Network and Public Support
xMoney operates across various sectors, including luxury retail, gaming, travel, real estate, and public services. The system boasts a wide user network, including government entities like the Liechtenstein National Administration and the City of Lugano, allowing citizens to pay for public services with cryptocurrency.
Greg Siourounis, Global CEO of xMoney, highlighted the partnership’s importance in strengthening the bridge between blockchain and traditional finance. By integrating Binance Pay into their ecosystem, they offer users greater flexibility and payment options.
xMoney fully complies with the EU’s MiCA regulations, ensuring a secure environment for cryptocurrency transactions. This creates a transparent and regulated payment infrastructure for both businesses and users.
Binance Pay’s global commercial network has reached over 32,000 businesses, showing significant growth from 8,900 in December 2023 to over 12,000 in December 2024, reflecting a 36% annual increase.
