Bifinity is an official FIAT-to-crypto payments provider for Binance as well as other blockchain networks, which aims to enable seamless API integration for mainstream and crypto merchants to be able to scale their businesses.
Bifinity initially supports over 50 cryptocurrencies and major payments methods, including VISA and Mastercard (NYSE:MA).
Binance launches Bifinity
Binance is the world’s leading blockchain ecosystem and crypto infrastructure provider launched Bifinity on March 7.
Bifinity and Eqonex have also entered into a strategic partnership, through which they will be able to provide a $36 million convertible loan. This strategic partnership will see both companies expand their line of products, which includes Eqonex’s cryptocurrency custody solution known as Digivault.
However, this isn’t really the only partnership which Bifinity is entering, as the payment solution will also conduct partnerships with cryptocurrency wallet providers and blockchain platforms, such as SafePal and Zilliqa, alongside the specialized payment platform known as PaySafe, as well as the global payments processor known as Checkout.com.
On the Flipside
- Cryptocurrencies have the potential to eventually power the economy for Web 3.0, which will be the latest iteration of the internet, and we can expect a lot of competition in the global payment processor sector.
Why You Should Care
Cryptocurrencies are shaping up to be a lot more mainstream going forward, enabling just about any merchant to accept them as a payment method through the utilization of solutions such as Bifinity, which through the help of its partners, can upgrade the on-ramp payment processing infrastructure.
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