Day by Day, more and more firms and companies are accepting crypto payments. To facilitate the world with the new payment method, Binance launched its independent fiat-to-crypto payment platform, Bifinity.
The new platform will help businesses to connect “businesses, merchants and millions of users” on the crypto and blockchain. The platform is equipped with a customizable API for merchants, which will enable quick crypto payments for their users.
As per the blog post, Bifinity supports more than 50 cryptocurrencies and major payment methods including VISA, Mastercard, and more. Also, the platform claims that it will apply low-cost payment process fees for merchants.
To offer fiat on and off-ramp solutions, Bifinity also joined hands with crypto wallet providers and blockchain platforms, including Safepal and Ziliqa.
“As the crypto and the Web3 economy continue to grow, we see greater demand to build improved fiat-to-crypto on-ramps to bridge the gap between the traditional finance industry and the decentralized and centralized crypto economy. At Binance, the vision is to increase the freedom of money globally. With the launch of Bifinity, we aim to accelerate mass crypto adoption,” said Helen Hai, President of Bifinity
Binance officials expect that the crypto will ultimately become a power reactor to run and grow the Web 3.0 economy. To build a Web 3.0 economy, Bifinity also teams up with Paysafe and Checkout.com that enable platforms “to expand crypto access globally and allow more users to buy and sell crypto”.
After watching the potential of crypto payment on Web 3.0, many tech giants are taking a dive into the new crypto space. Recently, Google hired a former Paypal executive to lead an upcoming crypto payment project.