Binance Pay Partners With xMoney, Advances Crypto Accessibility in Europe

Binance Pay, a seamless cryptocurrency payment solution by world's leading exchange Binance, has announced a partnership with xMoney, a leading Web3 transfers infrastructure provider in Europe, to expand access to crypto payments for businesses and consumers.

Binance Pay taps xMoney Web3 payment solution: Details

According to an official announcement by the two teams, Binance Pay, a retail and institutional payments platform by top exchange Binance, has entered into a long-term strategic cooperation with xMoney, a European crypto payments network and Mastercard principal partner.

The newly-launched collaboration connects Binance Pay users to xMoney’s network of merchants, streamlining transactions by enabling direct payments from Binance (BNB) exchange accounts. It significantly optimizes the payment process for retail users and e-commerce market participants.

This collaboration provides Binance Pay users with seamless access to a diverse range of merchants, including luxury, gaming, travel and e-commerce segments, offering greater flexibility in how and where they use cryptocurrency. 

By removing the need for traditional on-chain transactions, the partnership ensures faster, cost-effective and user-friendly payment experiences for both consumers and merchants.

Jonathan Lim, Global Head of Binance Pay, highlights the importance of working together for both partners and retail crypto usage as such:

This collaboration between Binance Pay and xMoney comes at a pivotal moment as  cryptocurrency is being embraced in mainstream commerce and public services. The ability to pay for luxury goods, travel, and even government services with crypto demonstrates how digital currencies are becoming a practical tool for everyday transactions

He also stressed that the collaboration showcases a prominent use case for crypto, meeting the growing demand for secure, efficient and accessible payment solutions.

Binance Pay's network hits 32,000 merchants milestone

Greg Siourounis, CEO of xMoney Global, echoes the statement of his colleagues and expresses his optimism about the cooperation with Binance:

Partnering with Binance Pay is a significant step in revolutionizing the bridge between blockchain and traditional finance. By integrating Binance Pay, we’re expanding our ecosystem and offering our users even more flexibility and choice in how they transact. This collaboration underscores our commitment to innovation and enhancing the payment experience for our merchants and their customers

With xMoney’s strong focus on compliance, the partnership leverages a trusted and regulated framework to support cryptocurrency adoption, providing a secure and trusted framework for cryptocurrency transactions.
With the partnership with xMoney, Binance Pay’s merchant network has grown to over 32,000, marking a significant milestone in its development. 

This growth builds on a 36% year-over-year increase, rising from over 8,900 merchants in December 2023 to over 12,000 by December 2024. 

The continued expansion demonstrates Binance Pay’s commitment to providing users with diverse opportunities to use cryptocurrency for everyday purchases, from travel bookings to luxury goods, aligning with the growing demand for practical and accessible digital payment solutions.