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Cryptocurrency exchange Binance has launched a beta version of its own payment service. This was stated by the CEO of the trading platform Changpeng Zhao during the online conference Binance Blockchain Week.
If you missed the #Binance Pay announcement earlier, watch this. pic.twitter.com/cc91ONoYf5
– Binance (@binance) February 2, 2021
“We believe that payments are one of the most obvious use cases for cryptocurrencies,” Zhao said.
Binance Pay is available to registered users on the exchange. The process of creating an account in the system provides for the passage of KYC procedures.
Company representatives statedthat the beta version supports the native token of the BNB exchange, the Binance USD stablecoin (BUSD), Bitcoin (BTC), Ethereum (ETH), and one fiat currency – the euro. Also, users have access to the ecosystem token of the issuer of bank debit cards linked to digital assets Swipe (SXP).
Transfers are limited to up to $ 10,000 or 10 transactions per day.
The trading platform launched Binance Pay a few months after the payment company PayPal opened access to Bitcoin, Bitcoin Cash, Ethereum and Litecoin for American clients.
As a reminder, in July 2020 the cryptocurrency exchange Binance acquired Swipe and received a portion of SXP tokens.
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