Binance Pay Makes Inroads in Latin America, Europe

Binance Pay, Inswitch, Varus

Binance Pay, a cryptocurrency payment technology designed by Binance, is expanding to Latin American and Europe through their new strategic partnerships with Inswitch and VARUS. This will allow merchants to increase revenue by accepting crypto and offer them with a new way to service payments.

Inswitch

Binance and fintech company Inswitch announced a strategic partnership in a press release that will allow Binance Pay to be offered to all merchants in Latin America.

• Receive payments in 50-plus crypto tokens with lightning-fast payments.
• Support new business models or products and accept recurring payments globally.
• Fast-set-up Binance Pay and manage recurring customers with Inswitch's APIs and solutions (e.g., Payment Links, Hosted Checkout, etc.)

"We are thrilled to bring crypto payments to more than 650 million LATAM users by partnering with Inswitch; this keeps reinforcing Binance Pay's objective of providing contactless, borderless, and secure cryptocurrency payment experiences to companies and consumers," said Jonathan Lim, Global Head of Binance Pay.

VARUS x Binance Pay

VARUS, a Ukrainian supermarket chain, partnered with Binance to facilitate crypto payments for customers buying groceries, becoming the first European country to do so.

• VARUS has 111 stories in 28 different cities.
• This feature of digital asset payment has now been made available in nine cities: Kyiv, Dnipro, Kamianske, Kryvyi Rih, Zaporizhzhia, Brovary, Nikopol, Vyshhorod, and Pavlograd.
• New "reward fund promotion"- customers who order anything from the VARUS Delivery program worth over 500 Ukrainian hryvnias (UAH) and pay with Binance Pay will be rewarded with 100 UAH.

Ethereum Co-Founder Vitalik Buterin has said he believes Ukraine could become the next major hub for Web3.

Meanewhil, on the subject of crypto adoption in Europe, Changpeng "CZ" Zhao, co-founder and CEO of Binance, said that:

“Paris is probably ... the financial hub for crypto in Europe and the larger part of the world.”