logo
Back to News
Binance Pay Expands in Europe with xMoney Partnership

Binance Pay Expands in Europe with xMoney Partnership

Cryptocurrency News

Binance Pay, the payment arm of leading cryptocurrency exchange Binance, has partnered with xMoney, a European blockchain payment solution provider. This collaboration aims to significantly increase the accessibility of crypto payments for European consumers.

Binance Pay's European Expansion via xMoney

The partnership leverages xMoney's established infrastructure to connect Binance Pay users with a wide network of merchants. This expands Binance Pay's reach across Europe, as announced in an official Binance blog post. The goal is to provide secure, efficient, and user-friendly crypto payment solutions to meet growing market demand.

Jonathan Lim, Global Head of Binance Pay, highlighted the significance of the move: "This collaboration comes at a pivotal moment as cryptocurrency is being adopted in mainstream commerce and public services. The ability to pay for various goods and services with crypto shows its increasing practicality."

Expanding the Merchant Network

This partnership expands Binance Pay's merchant network significantly. xMoney's existing network includes businesses in luxury retail, gaming, travel, real estate, and public services, resulting in a combined network of over 32,000 businesses globally. This represents a substantial milestone for Binance Pay's growth, building on its 36% year-over-year growth.

Greg Siourounis, CEO of xMoney, stated: "Partnering with Binance Pay is a crucial step in bridging the gap between blockchain and traditional finance." This expansion offers customers increased flexibility and choice.

Regulatory Compliance

xMoney's full compliance with the EU's Markets in Crypto-Assets (MiCA) regulations ensures a secure environment for crypto transactions. This is particularly important given recent regulatory scrutiny of Binance. The partnership demonstrates Binance Pay's commitment to responsible and compliant operations within the European market.

Note: Codeum, a leader in blockchain security and development, offers services such as smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies to help companies navigate the complexities of the blockchain space.

Share this article