Binance To Launch New Payments Technology Platform

It’s been just revealed that the leading crypto exchange Binance announced the launch of a new payments tech company that is called Bifinity. Check out the latest reports involving this new move below.

The official announcement revealed that Bifinity will also serve as Binance’s official fiat-to-crypto payments provider.

Bifinity also has a strategic partnership with EQONEX Limited – this is the first digital asset firm with an exchange to be publicly listed in the US.

“Under the terms of the strategic partnership, Bifinity will advance a US$36 million convertible loan to EQONEX and will work together to maximize business synergies created by this new strategic relationship and capitalize on opportunities to cooperate and further expand their businesses.”

Bifinity also made sure to reveal partnerships with the payments platform PaySafe and the international payments processor Checkout.com.

Bifinity President Helen Hai said this about the newly announced partnerships:

“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.”

She also said:

“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.”

Make sure to check out the original article posted by the Daily Hodl in order to learn more details about the partnerships and also take a look at the official announcement as well.

Back in January, we revealed that the crypto exchange Binance implemented its first-ever Binance token auto-burn program in Q4 2021. The exchange removed more than 1.6 million BNB tokens that are worth over $750 million from circulation.

According to the reports, the number of tokens to be burned is arrived at using a formula based on the total number of blocks produced on the Binance Smart Chain.