March 29, 2024

Binance Cryptocurrency Exchange Launches Its Own Payment System

The beta version of Binance Pay was introduced in February.The service allows merchants around the world to accept paymentcryptocurrency without commissions.

Crypto exchange Binance officially launched the serviceBinance Pay. It is an in-app payment system that allows stores around the world to accept cryptocurrency for payment. The head of the exchange, Changpeng Zhao, called the service part of its long-term development.

Binance Pay has been launched in beta forpayments between clients of the crypto exchange in February 2021. About 250 thousand people took part in the tests. Now the service has become available for payment transactions as well. Various companies, including those from e-commers or restaurants, for example, can start working with digital money.

The first company to integrate Binance Pay was Travala.com. Its customers can book over 3 million travel products using cryptocurrency.

On March 12, it became known that the former senator andmember of the US Democratic Party Max Baucus became an advisor to the Binance crypto exchange. Bokus will participate in forging links between the crypto exchange and US financial regulators. In addition, he will advise the company on interaction with the authorities of the “most important” jurisdictions.

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