Binance Pay and xMoney unite to revolutionize digital payments in Europe
Binance Pay and xMoney unite
In a significant move to advance cryptocurrency payments in Europe, Binance Pay, the payment subsidiary of global crypto exchange Binance, has partnered with xMoney, a leading blockchain-based payment solutions provider.
The partnership is set to expand Binance Pay’s merchant network to over 32,000 businesses, reinforcing its role in the evolving digital payment ecosystem, according to Coingape.
Strengthening Crypto Adoption and Compliance
This strategic alliance is designed to meet the increasing demand for secure and efficient digital payment solutions. By leveraging xMoney’s infrastructure, Binance Pay users will gain access to a wider array of merchants across industries such as luxury retail, gaming, travel, real estate, and public services.
Jonathan Lim, Global Head of Binance Pay, emphasized the significance of the collaboration, noting that it comes at a time when cryptocurrency is gaining mainstream acceptance. “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,” Lim said.
Compliance remains a priority for both entities. xMoney operates under the EU’s Markets in Crypto-Assets (MiCA) regulations, ensuring that transactions are conducted within a secure and regulated framework. This aspect is particularly crucial as Binance continues to navigate regulatory scrutiny in multiple jurisdictions, including an ongoing judicial investigation in France.
xMoney CEO Greg Siourounis highlighted the broader implications of the partnership, stating, “This collaboration is a major step in bridging blockchain and traditional finance, providing consumers with greater flexibility.”
With Binance Pay’s continued expansion and commitment to regulatory adherence, the partnership with xMoney marks a significant milestone in the push for mainstream cryptocurrency adoption in Europe.
Recently, Binance saw record success in 2024, with over $24 billion in user deposits. This surge was driven by a growing user base of 250 million and boosted by global crypto adoption and the launch of U.S. Bitcoin and Ethereum ETFs.
