Binance Pay, a virtual currency payment platform powered by Binance, today announced a strategic partnership with xMoney, a Web3 transaction hub in Europe. Through this alliance, the two entities are making cryptocurrency payments secure and more seamless for everyone in Europe.
Expanding merchant payment network
XMoney’s broad merchant network reaches various industries including real estate, travel, gaming, luxury retail, and even public service. It also supports government clientele like Liechtenstein National Administration and the City Of Lugano where locals can use crypto to pay for public services. This broad merchant network powered by xMoney evolved to accommodate the growing interest in cryptocurrency use in business premises and public sectors in the entire Europe.
Its collaboration with Binance Pay is a crucial development as it enabled it to create a seamless trading connection between traditional finance and the cryptocurrency world. By integrating its infrastructure into Binance Pay, xMoney broadened its ecosystem and provides its users with higher trading options and greater flexibility in how to conduct day-to-day transactions.
Furthermore, customers and merchants have peace of mind accessing xMoney as the platform thrives on trust and regulatory compliance. It remains committed to adhering to the EU’s MiCa laws and emphasizes legal adherence to ensure a safe environment for Web3 accessibility and cryptocurrency transactions.
On the other hand, this alliance allowed Binance Pay users to seamlessly access xMoney’s broad merchant network, allowing more than 20,000 European businesses to accept cryptocurrency directly. This helps simplify transactions across a wide range of industries like e-commerce, gaming, travel, luxury goods, and many more.
As a result, based on this collaboration, Binance Pay’s network has experienced tremendous growth – recently onboarded 32,000 businesses worldwide. This is an indication that this alliance has been an essential initiative. The partnership also enabled Binance Pay to register an impressive 36% year-to-year growth. In just one year, Binance Pay drew in more than 12,000 merchants by December 2024.
This continued growth represents Binance Pay’s commitment to bringing innovative opportunities for crypto applications, including allowing users to book travels, buy luxury items, and access various everyday transactions using cryptocurrency. These innovative offerings coincide with the evolving demand for advanced, accessible, and real-world digital payment solutions.
Dismantling obstacles in crypto payments
Based on this collaboration, the two firms jointly offer a more affordable, rapid, and accessible payment experience for both businesses and ordinary customers. Binance Pay users can now smoothly access a broad variety of Web3 and traditional products and services, enabling them to integrate cryptocurrency into their everyday transactions.
This partnership happened at a crucial time when crypto assets are increasingly being adopted in traditional markets and even public service. Paying travel expenses, luxury items, and even government services using cryptocurrency is proof that cryptocurrency is becoming a common instrument for daily transactions.
By collaborating with xMoney, Binance Pay assists in advancing the use of blockchain technology to offer real-world applications to users. This helps fulfill the increasing demand for accessible, seamless, and secure digital payment solutions.
