The world’s largest cryptocurrency exchange has launched its own payments technology firm.
Binance’s new payments firm, Bifinity, will work with payments processor Checkout.com to provide fiat currency on- and off-ramps for users of cryptocurrency exchanges, enabling them to use digital assets for retail purchases.
It will, the company hopes, “empower businesses to adopt crypto and reach new audiences with easy, direct fiat-to-crypto transactions.”
Bifinity promises intuitive merchant application programming interfaces (APIs) and low payments processing fees, as well as a user-friendly front-end for crypto buying and selling entry points. It will work with other exchanges as well, notably Singapore-based EQONEX, a Nasdaq-listed…