Binance as of this money is the largest crypto exchange in terms of the trading volume. They have been at the top for a long time and are looking to boost their fiat to crypto by issuing their payment providers.
On Monday they announced that they will launch the new Bifinity payment company that will boost their fiat to crypto stats. It will have a traditional financial system in place.
Bifinity since its inception will support 50 or more coins including major ones like Ethereum and Bitcoin. They have also collaborated with payment platforms like Mastercard, Visa and others.
This new payment platform helps businesses and merchants to adapt to the new cryptocurrencies and provide crypto-related services to customers. This enables people to buy and sell goods and services in terms of crypto.
This will help bridge the gap between the traditional financial systems and the new DeFi tech. With people warming up to crypto in recent times there is a high chance that this will be the norm in coming years. Not only that it will help people get more acquainted with DeFi.
As of now, Bifinity is in a partnership with Eqonex that will provide them with a $36 million loan for helping them in operations. In the future, Bifinity will also collaborate with Zilliqa and Safepal for more fiat to crypto transactions. This is a great way to turn more people onto crypto.
If you are a crypto enthusiast then the future looks bright with all these crypto-based innovations.