Binance Launches Payments Technology Company Bifinity
Bifinity is an official fiat-to-crypto payments provider for Binance and other blockchain networks, and aims to enable seamless API integration for both mainstream and crypto-centric merchants to scale their businesses.
Bifinity will initially support over 50 cryptocurrencies and major payments providers, including Visa and Mastercard.
Binance Launches Bifinity
Binance is the world’s leading blockchain ecosystem and crypto infrastructure provider and launched Bifinity on March 7th.
Bifinity and Eqonex have also entered into a strategic partnership through which they will be able to provide a $36 million convertible loan. This strategic partnership will see both companies expand their line of products, including Eqonex’s cryptocurrency custody solution ‘Digivault‘.
However, this is not the only partnership which Bifinity has formed, as the payment solution has also made agreements with an array of cryptocurrency wallet providers and blockchain platforms such as ‘SafePal’ and ‘Zilliqa‘, alongside specialized payment platform ‘PaySafe‘, and global payments processor ‘Checkout.com‘.
On the Flipside
Cryptocurrencies have the potential to someday power the Web 3.0 economy, and growth can be expected in the competition within the global payment processing sector.
Why You Should Care
Cryptocurrencies are shaping up to become more mainstream going forward, enabling just about any merchant to accept them as a payment method through the utilization of solutions such as Bifinity, which, with the help of its partners, can upgrade the on-ramp payment processing infrastructure.
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