Binance, which is known to those active in the crypto space as one of the largest cryptocurrency exchanges out there today, has officially set up its very own fiat-to-crypto payments provider, titled Bifinity. According to the company, this is to aid businesses in becoming “crypto-ready,” said the company.
Bifinity was officially established last year and is all set to launch on the market on Monday. Its support extends to support 50 cryptocurrencies as well as all the major payment methods, including but not limited to Visa and Mastercard, as announced by Binance themselves on Monday.
Using Bifinity’s APIs, merchants will be able to “get their business crypto-ready,” which would thereby enable them to accept payments issued in crypto.
The Lithuania-situated Vilnius, Bifinity’s first clients are a digital asset financial services firm Eqonex, also known as EQOS, as well as payment platforms such as Checkout.com, and Paysafe.
Binance also stated that has entirely opened up its euro and sterling transactions over the Single Euro Payments Area, also known as Sepa. Furthermore, the U.K’s Faster Payments Service networks as of 11:00 UTC, too. Sepa saw itself halted last year in July, with it only just beginning its journey to reinstatement in January.
The company said “Binance retail users across Europe, with the exception of Netherlands and Switzerland, will be able to make EUR transfers directly via SEPA,” and that “Support for corporate accounts is not available.”