Cryptocurrency exchange Binance has announced the entry into the market of its subsidiary Bifinity, a fiat-to-cryptocurrency payment provider.
The Bifinity service supports 50 cryptocurrencies and all major payment methods, including bank cards. The use of Bifinity APIs will allow existing and potential participants in the cryptocurrency market to get additional “entry points”, scale and “prepare the business for cryptography”, as well as realize the possibility of accepting payments for goods and services in cryptocurrency, the creators of the project assure.
“As the crypto industry and the Web3 economy continue to grow, we are seeing an increase in demand for creating fiat-to-crypto exchange channels, bridging the gap between the traditional financial industry and the crypto economy. Binance aims to increase the freedom of circulation of money around the world. With the launch of Bifinity, we aim to accelerate the mainstream adoption of cryptocurrencies,” announced Bifinity President Helen Hai.
Binance says the Bifinity subsidiary will partner with leading cryptocurrency wallet and blockchain platform providers such as Safepal and Ziliqa. Objective: to offer the user base convenient solutions for fiat transactions.
Binance has fully resumed EUR and GBP transactions through the Single Euro Payments Area (SEPA) and the UK’s Faster Payments Service as of 11:00 UTC March 07, 2022.