Binance Pay, a payment solution from the well-known crypto exchange Binance, has partnered with xMoney, a web3 payments platform. This partnership aims to boost the use of cryptocurrency for payments across Europe. The announcement was made on February 3, 2025.
Through this collaboration, Binance Pay will utilize xMoney’s regulatory approval as a licensed platform under the Markets in Crypto Assets (MiCA) framework. This will help bring crypto payment options to over 20,000 businesses in Europe.
With the integration of xMoney, Binance Pay’s network will expand to support more than 32,000 merchants. In December 2024, Binance Pay had around 12,000 merchants, showing a 36% increase from 9,800 in December 2023.
Customers will be able to use Binance Pay for various purchases, including e-commerce, luxury items, travel, real estate, and gaming. This is part of xMoney’s expanding network of merchants, which also includes clients like the City of Lugano and the National Administration of the Principality of Liechtenstein.
The partnership is significant as it aligns with the EU’s MiCA regulations, which could lead to further growth in the crypto payment sector. Jonathan Lim, the global head of Binance Pay, highlighted the importance of this collaboration. He noted that it comes at a time when cryptocurrencies are increasingly accepted in mainstream commerce and public services. The ability to use crypto for everyday transactions, such as buying luxury goods or paying for travel, shows the practicality of digital currencies.
