Crypto Exchange Binance To Launch New Payments Technology Platform

Leading cryptocurrency exchange Binance is announcing the launch of a new payments technology company called Bifinity.

According to a new announcement, Bifinity will also serve as Binance’s official fiat-to-crypto payments provider.

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Bifinity has a strategic partnership with EQONEX Limited, the first digital asset firm with an exchange to be publicly listed in the US.

“Under the terms of the strategic partnership, Bifinity will advance a US$36 million convertible loan to EQONEX and will work together to maximize business synergies created by this new strategic relationship and capitalize on opportunities to cooperate and further expand their businesses.”

Bifinity is also announcing partnerships with the payments platform PaySafe and the international payments processor

Says Bifinity President Helen Hai of the newly announced partnerships,

“As the crypto and the Web3 economies continue to grow, we see greater demand to build improved fiat-to-crypto on- and off-ramps to bridge the gap between the traditional finance industry and the decentralized and centralized crypto economy. Binance’s vision is to increase the freedom of money globally and through the launch of Bifinity, and with these strategic partnerships with EQONEX, Paysafe and, we aim to accelerate mass crypto adoption.”]

Says Paysafe CEO Philip McHugh,

Related:  Exchange Inflows Rock Bitcoin, Ethereum As Market Struggles To Recover

“Starting with digital wallets and real-time banking solutions, we look forward to expanding the relationship with more products and geographies as we help the team achieve their growth ambitions.”

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Featured Image: Shutterstock/DanieleGay

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