Binance Launches Bitfinity, a Payments Company Targeting the Web3 Economy

Leading cryptocurrency exchange Binance has announced the launch of its own payments processing company, Bitfinity. Bitfinity will act as the default fiat-to-crypto payments ramp for the exchange, as well as for other blockchains. With this launch, Binance also targets the expanding Web3 economy, partnering with Paysafe and Checkout.com. I won't be surprised if other crypto trading and copy trading platforms like Coinbase and Tycoon do the same.

Bitfinity Launches to Help Merchants Accept Crypto

Binance, one of the largest exchanges by volume traded, recently announced the launch of Bitfinity, its own payments technology company. Bitfinity will become the de facto fiat-to-crypto payments processor of the exchange, supporting more than 50 currencies and all major payment methods, including Visa and Mastercard.

This new processor also aims to make merchant onboarding easier, with merchants being able to use Bitfinity’s API to receive cryptocurrency-based payments directly. Binance stated that another objective is to present users with a more friendly system for crypto payments.