The largest cryptocurrency exchange in the world, Binance has partnered with Splyt, a “super app enabler”, to bring payment options to the Binance app. Payment options made for Splyt services include cryptocurrencies.
When you’re on the go, the integration will allow Binance users to pay for transportation services, but “also for bike sharing, scooters, airport transfers, public transport and even food delivery”a Splyt spokesperson told Cointelegraph.
As usual, Binance CEO CZ helped break the news on Twitter:
Book your ride with #Binanceand pay in crypto (no need to convert to fiat).https://t.co/ueGYyy6XVm
— CZ Binance (@cz_binance) June 14, 2022
The news brings some relief to Binance, which on Monday suffered issues related to “stuck transactions” when withdrawing Bitcoin (BTC). The problem was resolved eight hours later.
A Splyt spokesperson told Cointelegraph that it would be the “first partnership in the cryptocurrency space” and in the face of dangerous price action with Bitcoin below $25,000, “Splyt is excited about its development.”
“Increasingly, users are turning to their crypto wallets to pay for everyday services. […] Fully integrating everyday services as an obvious next step for cryptocurrency wallets.”
For Binance, it is no secret that they are keen to get a foothold in the cryptocurrency payments space. for CZ, payments and app integrations are meant to increase Binance’s ubiquitous brand awareness. Since the world has gradually reopened from the depths of the Covid-19 pandemic, CZ has embarked on a world tour, introducing cryptocurrencies and Binance Pay to countries and investors around the world.
According to the report, Binance is already used by 90 million users in more than 150 countries around the world. For Splyt, the partnership opens the door to a broad customer base:
“The other perspective is equally important: Mobility and other on-demand services can dramatically increase transaction acceptance and volume, by being made available through cryptocurrency platforms, which collectively have hundreds of millions of users.”
Critically, as companies like BlockFi, Gemini, and more recently Coinbase report headcount reductions, the news is further evidence that Binance is betting on the bear market. Another feather to your cap, Binance continues to expand operations and roll out capex.
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