Binance, the world’s largest cryptocurrency exchange, has partnered with Splyt, a “super app”, to add payment methods to the Binance app. Splyt’s payment options include cryptocurrency.
When the integration goes live, Binance users will be able to pay for taxi services, as well as “bike rentals, scooter rentals, airport transfers, public transportation, and even food delivery,” a Splyt spokesperson told Cryptooshala.
As usual, CZ, CEO of Binance, helped break the news on Twitter:
— CZ Binance (@cz_binance) June 14, 2022
The news comes as some relief to Binance, which has been dealing with “stuck transactions” issues while withdrawing Bitcoin (BTC) on Monday. The problem was solved after eight hours.
A spokesperson for Splyt told Cryptooshala that this would be “the first partnership in the crypto space” and faced with a dangerous price move with bitcoin below $25,000, “Splyt is enthusiastic about its development.”
“Users are increasingly turning to their crypto wallets to pay for everyday services. […] Full integration of day-to-day services as an obvious next step for crypto wallets.”
It is no secret to Binance that they are looking to gain a foothold in the crypto payment space. For CZ, payments and app integrations are designed to boost Binance’s ubiquitous brand awareness. As the world gradually reopened after the height of the Covid-19 pandemic, CZ undertook a world tour introducing cryptocurrency and Binance Pay to countries and investors around the world.
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Report He speaks that 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 point of view is just as important: mobility and other on-demand services can significantly increase transaction acceptance and volumes when available through crypto platforms that collectively have hundreds of millions of users.”
It is important to note that as companies such as BlockFi, Gemini and most recently Coinbase are reporting staff cuts, this news is further evidence that Binance is doubling down on a bear market. Another advantage of Binance is that Binance continues to expand its operations and capital investments.
Credit : cointelegraph.com