Binance Jalin Partnerships With Ingenico To Improve Crypto Adoption

Binance is in partnership with a French company. (Photo; Doc. Freebitco)

JAKARTA - Binance, the world's largest crypto exchange company, continues to show its dominance despite experiencing unpleasant issues, especially related to the BUSD stablecoin. However, recently Binance announced its partnership with Ingenico, a digital asset payment company from France.

This partnership comes after Binance recently gained regulatory approval in the country. The goal of this partnership is to expand Binance's reach worldwide and increase crypto adoption through recent collaborations.

According to an official announcement, Binance Pay is now available at two major outlets using Ingenico payment terminals, namely clothing stores Miss Operora and bar Le Carlie. Binance Pay and Binance Card director Jonathan Lim paid high praise for Ingenico's payment solution that provided Binance an easy landing and reduced the burden on making new discoveries.

Ingenico's payment solution is also designed to be able to accept at least 50 cryptocurrencies, making it easier for Binance users to make payment transactions. This is the initial stage of this partnership, where users can now pay vendors with digital assets.

In addition, Binance will also be integrated into PaaS Ingenico, a payment platform as a service, so that traders with PPaAS can quickly accept payments inside customer stores.

Both sides plan to come up with a larger solution that will allow payments to traders in fiat currency in the future. This crypto-to-fiat payment solution will be tested in the second quarter of 2023. Binance also plans to expand payment solutions throughout Europe, thereby maintaining its lead in the retail market.

This partnership shows Binance's efforts to continue to strengthen its position as a major player in the crypto industry. Binance strives to expand its reach and increase crypto adoption through collaboration with other companies, such as Ingenico. With Ingenico's innovative payment solutions, Binance can accelerate access to consumers without having to create its own terminal or software.