To enhance its presence in the global payment ecosystem, digital exchange Binance has officially launched Bifinity, the company’s fiat-to-crypto payments provider. Bifinity is a payments technology company that aims to connect businesses and users across the global crypto and blockchain sector.
Through the use of APIs, merchants will be able to facilitate crypto payments. According to Binance, Bifinity supports more than 50 digital currencies around the world. Additionally, it assists major payment methods, including Visa and Mastercard.
"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 traditional finance 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, the President of Bifinity.
Binance mentioned that Bifinity provides cost-efficient solutions to merchants. In the coming months, the company is planning to partner with prominent crypto wallet providers and blockchain firms.
Focus on Web 3.0
The interest around Web 3.0 among the global crypto community has soared in the past few months. Binance believes that digital currencies will power the Web 3.0 economy. As an important step towards the development of the Web 3.0 economy, Bifinity is partnering with EQONEX, Paysafe and Checkout.com.
“We are extremely pleased to team up with Bifinity in a partnership that is likely to be transformational for both companies and for the industry at large. Bifinity shares our strong belief in helping to bridge the world of traditional finance with cryptocurrencies, as well as our conviction to operate to the highest standards of investor protection, regulatory oversight, security and governance,” Chi-Won Yoon, Chairman of EQONEX, commented.
Through recent collaborations, Bifinity aims to make its payment processing infrastructure more efficient.
