Behemoth cryptocurrency exchange Binance has announced the launch of its fiat-to-crypto payments solution provider Bifinity. The payments platform will allow businesses to adopt crypto and reach new target audiences easily, using direct fiat-to-crypto transactions.
The announcement comes as Bifinity announced a strategic partnership with Nasdaq-traded EQONEX Limited. As the pioneering crypto firm with an exchange publicly listed in the US, EQONEX provides its customers access to regulations-compliant trading services around institutional-grade digital asset investment solutions.
Per the agreement of the partnership, Bifinity will give EQONEX a $36 million convertible loan advance and pool exchange ideas on how to maximize business synergies and expand their business reach.
Bifinity Partners with Paysafe and Checkout.com to Boost Web3 Economy
Additionally, Bifinity announced that it also partnered with top specialized payments provider, Paysafe, and top global payments processor, Checkout.com to expand the Web3 ecosystem by reducing barriers to entry into the crypto space globally and providing a safe environment for users to trade crypto.
Commenting on the development, President of Bifinity Helen Hai explained:
“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. 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.”
Also, Chairman of EQONEX Chi-Won Yoon noted:
“We are extremely pleased to team up with Bifinity in a partnership that is likely to be transformational for both companies and for the industry at large. 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, regulatory oversight, security, and governance. This transaction marks the next logical step in our company’s evolution, representing an important opportunity to grow our footprint and expand our regulated offerings for the benefit of our customers and shareholders.”
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