- Binance Pay expands crypto payments to 80 Riviera stores and hotels now.
- Tourists earn EURI rewards when spending stablecoins for coffee or stays.
- French Riviera project could inspire more cities to accept crypto payments too.
Binance Pay has launched crypto payments across the French Riviera. The company has teamed up with the French fintech firm Lyzi to make this possible. There are now over 80 stores, hotels, restaurants, and clubs in Cannes, Nice, Antibes and Monaco able to accept crypto. The step introduces online currency to one of the leading luxury destinations in the world.
Binance Pay Rewards Riviera Tourists with EURI for Using Crypto
Tourists and locals are now able to spend their stablecoins as well as other digital tokens without any hassle. They are able to purchase coffee, to book hotels, to have a fine dinner, to rent services in cash or cards. This project aims at demonstrating that crypto can be part of our everyday life.
The project revolves around Binance Pay. It is the payment system of Binance that allows simple, safe, and instant spending of crypto. No additional charges and delays. More than 100 different types of coins can be used by people. Transactions are instant and there is no gas charge. This is simple even to the first-time users.
Lyzi will assist in the training of local business. The city mayor in Cannes has already expressed support to this new plan. He added that the local business people will get to know how they can make accept crypto-transactions in the future strategy of the city. The training implies that there will be more stores that will be ready to accept crypto this summer.
Binance Pay is aimed at rewarding early spenders as well. The reward points earned by the visitors when using their cryptocurrency in Cannes will be denominated in EURI, which is a stable cryptocurrency backed by euro. Further, by purchasing the ice cream or even reserving room in a hotel with crypto, a tourist earns a little money back in the process. This would be to help promote the use of digital coins by people.
French Riviera Project May Inspire Other Cities to Accept Crypto
Earlier this year, Binance Pay undertook a major step in Europe. It entered into a partnership with xMoney, a significant payment interest company working with Web3 companies, in February. The said agreement assisted in linking Binance Pay to numerous other stores within Europe. This is coupled with the deal with Lyzi that brings even more businesses to the network.
Security is important too. Binance Pay has strong safety measures. It employs secure transfers and two-factor verifications to ensure the safety of the users. Compensations get confirmed instantly, and the checkout process does not take long.
David Princay, the chief in charge of Binance in France, adds that this move is a sign of normality of crypto. The fact that crypto payments are observed at such a destination as the Riviera indicates that digital money is not a concept anymore.
Binance Pay aims at simplifying crypto spending for everybody. There is a large proportion of the population who owns crypto, although they do not necessarily use it. This project aims at altering that. By demonstrating to individuals that they can use crypto on daily purchases such as food, hotels, or taxis, Binance Pay wants to make more citizens accustomed to digital money.
The French Riviera is only the beginning. Other cities will follow such a project in case it is successful. And in the meantime, it means that tourists who come to Cannes or Nice can easily spend their crypto. They will have their summer and have a chance to watch how crypto functions in life.
Finally, crypto spending is now not only internet-based. Today it occurs on European beaches in nice weather and in crowd streets. Binance Pay and Lyzi would like to ensure that each person can use crypto just like money.
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