Binance Pay, the cryptocurrency payment platform by Binance, has announced a strategic partnership with xMoney, a leading Web3 payment provider in Europe.
This collaboration will allow over 20,000 businesses to accept crypto payments, further integrating digital currencies into mainstream commerce.
Bridging Crypto and Traditional Finance
The partnership enhances payment accessibility across multiple industries, including:
- Luxury retail
- Travel & tourism
- Gaming & e-commerce
- Real estate
- Public services
Through xMoney’s merchant network, Binance Pay users can now pay for government services in locations such as the City of Lugano (Switzerland) and the Principality of Liechtenstein.
This move reinforces cryptocurrency’s role as a legitimate payment method beyond private transactions.
A Growing Crypto Payment Ecosystem
With this collaboration, Binance Pay’s merchant network has expanded to over 32,000 businesses worldwide, marking a 36% year-over-year growth.
“This partnership comes at a pivotal moment when cryptocurrency is being embraced in mainstream commerce and public services,” said Jonathan Lim, Global Head of Binance Pay.
“By integrating Binance Pay, we’re expanding our ecosystem and offering users more flexibility,” added Greg Siourounis, CEO of xMoney Global.
xMoney operates under the EU’s MiCA regulatory framework, ensuring secure and compliant crypto transactions. This focus on regulatory alignment enhances trust among businesses and users looking for reliable digital payment options.
Impact on the Crypto Payments Industry
This partnership strengthens Binance Pay’s position as a global leader in crypto transactions, offering more opportunities for real-world crypto adoption.
With growing merchant adoption and regulatory clarity, crypto payments could soon become a standard feature in global commerce.
$UTK, the native cryptocurrency of xMoney, has surged 36% following the announcement and is now trading at a $42M market cap.
However, the token remains down 2% in the past 24 hours, impacted by a broader market downturn.
