Leading cryptocurrency exchange Binance has formed a strategic partnership with Worldpay, a global payment technology provider, to revolutionize how users purchase digital assets. This collaboration introduces a seamless way for Binance users to buy cryptocurrencies using Apple Pay and Google Pay, directly through the Binance app or website.
Apple Pay and Google Pay Integration
The new partnership simplifies the crypto purchase process by enabling users to pay with the debit or credit cards already linked to their Apple Pay or Google Pay wallets. This initiative is part of Binance’s ongoing effort to improve its fiat onramp, which facilitates the conversion of traditional currencies into cryptocurrencies.
By integrating these popular digital wallets, Binance aims to align crypto purchases with everyday payment experiences, like shopping or transportation. Users will no longer need to manually enter card details or set up new accounts to acquire digital assets. This user-friendly approach also lowers the entry barrier for newcomers to the crypto world, reducing friction in the process.
Expanding Access for Unbanked and Underbanked Users
Binance’s partnership with Worldpay is particularly beneficial for users in regions with limited banking infrastructure. Mobile-first solutions like Apple Pay and Google Pay can become vital tools for the unbanked and underbanked, offering an alternative way to transact, invest, and save. This move aligns with Binance’s broader mission to enhance global financial inclusion.
According to Binance’s Vice President of Fiat, Thomas Gregory, Worldpay’s strong global presence in digital payments made this partnership a natural fit. It also aligns with the exchange’s goal to expand its reach in regions with high mobile adoption but limited access to traditional banking.
Continued Expansion and Community Engagement
This strategic partnership is part of Binance’s larger effort to broaden its access to crypto globally. The exchange has already launched over 1,000 payment methods across 125 fiat currencies, with services introduced in more than 20 countries. In 2024, over 60% of Binance’s Fiat and P2P users made repeat transactions, reflecting the success of its efforts.
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With the addition of Apple Pay and Google Pay, Binance continues to make significant strides toward offering accessible financial solutions for users worldwide.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
