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Binance Launches Payment Company Named Bifinity

Binance launches payment company Bifinity to offer fiat-to-crypto payment services to merchants. Bifinity already establishing strategic partnerships in the crypto space.

Bifinity Payment Launches

Major cryptocurrency exchange Binance has announced the launch of Bifinity, a payments company that will offer fiat-to-crypto payments to users. 

Bifinity will offer on/off ramp solutions that will facilitate crypto adoption for new businesses and users, according to the press release from March 7. With Bifinity’s user-friendly API, merchants and businesses will be able to easily onboard regardless of experience. 

“As the crypto and the Web3 economies continue to grow, we see greater demand to build improved fiat-to-crypto on and off ramps to bridge the gap between the traditional finance industry and the decentralized and centralized crypto economy” says Helen Hai, President of Bifinity. “Binance’s vision is to increase the freedom of money globally and through the launch of Bifinity, and with these strategic partnerships with EQONEX, Paysafe and Checkout.com, we aim to accelerate mass crypto adoption.”
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Hai is referring to Bifinity’s announcement of a partnership with EQONEX Limited (NASDAQ: EQOS). The digital asset firm offers a slew of services including regulatory-focused trading, institutional-grade digital asset investment solutions, and high-security crypto and digital asset custody solution. 

Chairman of EQONEX Chi-Won Yoon noted:

“Bifinity shares our strong belief in helping to bridge the world of traditional finance with cryptocurrencies, as well as our conviction to operate to the highest standards of investor protection, regulator oversight security and governance.” 

Bifinity will become Binance’s official fiat-to-crypto payments provider and will serve to help onboard numerous companies and providers. This isn’t the only partnership Bifinity announced as they are also partnering with Paysafe, a specialized payment platform. 

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“With the launch of Bifinity, they [Binance] are now taking their growth to the next level”, says Philip McHugh, CEO, Paysafe. 

Rounding out the partnership announcements is Checkout.com, a global payments processor. VP of Crypto at Checkout.com Max Rothman added:

“We expect global e-commerce to continue outpacing the growth of traditional commerce - especially with the adoption of cryptocurrencies and NFTs.”

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