PIP, a supplier of Web3 payment solutions, has begun offering its services within the Binance ecosystem. These services support Binance Coin (BNB) and Binance USD (BUSD), both of which are stablecoins, for users of the Binance Smart Chain (BSC). The PIP Extension product of the network will be the one to deliver the more sophisticated service that acts as a connector for the Web3 ecosystem between a variety of linked Web2 social media networks.
This innovative coupling of the PIP browser-based extension with the Binance ecosystem will outline PIP’s added value for Binance’s huge existing customer base of cryptocurrency investors and traders. The expansion will serve to strengthen the idea of the microeconomy by removing major impediments to the billions of social media users who utilize its comprehensive financial services. This will be accomplished through the use of the platform’s inclusive financial services.
Users of PIP are able to generate a one-of-a-kind PIP tag and then link it to a supported social media account in order to simplify the process of making payments to other PIP users. Users are relieved of the burden of having to memorize lengthy wallet addresses when they share tags, which simplifies the entire end-to-end process of transferring payments, both small and large, at an affordable rate.
Streamlining Social Media Payments And Tips
Social media users are able to send payments and tips in a streamlined manner thanks to the platform’s user interface, which is geared toward the consumer and supports a number of major cryptocurrencies as well as stablecoins. These users may be transacting for products or services or perhaps appreciating their favorite content creators. PIP provides an inclusive monetization channel for all service and product providers. They can incorporate the blockchain infrastructure into their enterprises by publishing their PIP tags on their social media profiles or by embedding PIP buttons on their websites.
This would be a more cost-effective and straightforward way to exchange values between them in comparison to the use of legacy services. PIP already integrates with a number of well-known Web 2.0 social media networks, such as Twitter, Discord, Twitch, and Reddit. This makes it possible for users to sign up using their existing social media accounts in order to facilitate payments, tips, contributions, and other transactions amongst other users of the same platform.
Even users who do not have a PIP account are able to take part in the platform by accepting transactions via an escrow-based payment system. PIP.ME and the PIP Button will, at some point in the future, be able to offer support for the BNB and BUSD tokens. PIP.ME is a user-customizable link to a Web3 profile that can be distributed in order to facilitate the acceptance of payments, the display or marketing of user-owned NFTs, and the dissemination of content. Jeff Baek, CEO and Co-Founder of PIP, asserts, “We believe that PIP will help $17 billion BUSD to expand beyond a trading pair to become a means of global payment, flouring micropayment economy.”
Augmenting Online Content Monetization
PIP Button is yet another service developed to facilitate the commercialization of online activities. It does this by assisting users with the construction of a payment button for accepting cryptocurrency without requiring them to have any prior understanding of coding. Before putting a button on a website using HTML code or React, users can design customizable buttons and choose which cryptocurrencies they like to accept. Linking Web 2-based websites with the PIP payment infrastructure completes the product suite in its entirety.
PIP has launched further preparations to bring additional consumer-focused Web3 services to its range after successfully closing a seed-level investment from Alameda Research, Coinbase Ventures, CMS Holdings, Galaxy Digital Hong Kong, and Genesis Block Ventures. In addition, as part of its roadmap, the PIP team plans to expand support for more blockchains, currencies, and social media sites over the course of the next few quarters.
PIP aims to simplify the complexity and expense of crypto transactions by creating user-friendly interfaces, ultimately enhancing Web3-based financial inclusion. PIP’s portfolio of solutions, which includes PIP Extension, PIP ME, and PIP Button, enables social network users to transact and monetize content creation with ease. To date, the platform has onboarded more than 60,000 users and handled over $15 million in cryptocurrency payments.