Binance, the number one cryptocurrency exchange in the world, has announced the launch of its own payments technology company called Bifinity.
Bifinity will act as the exchange's official fiat-to-crypto payments provider.
It supports a host of cryptocurrencies as well as traditional payment networks such as Visa and Mastercard.
Merchants will be able to integrate the company's application programming interface (API) in order to reach a higher level of scale. The service claims that it offers payment processing fees.
As the crypto and the Web3 economy continue to grow, we see greater demand to build improved fiat-to-crypto on-ramps to bridge the gap between the traditional finance industry and the decentralized and centralized crypto economy.
Bifinity has already secured partnerships with Eqonex and Paysafe.