Binance has launched its payment service, Binance Pay, in Brazil, allowing merchants to accept cryptocurrency payments with low fees and fast transaction processing. The service supports over 70 cryptocurrencies, including Bitcoin, Binance Coin (BNB), Ethereum (ETH), and Tether USD (USDT). Binance Pay has partnered with WordPress, Weo Games, Valorant, and more, allowing users to pay for services with cryptocurrency.Binance’s general manager in Brazil, Guilherme Nazar, commented on the development, noting that the launch marks another milestone in mainstream crypto adoption as a payment option. Merchants can receive payment from customers in Brazilian Real or cryptocurrency directly from their digital wallets.Since its introduction in 2021, Binance Pay has consistently expanded its reach, gaining over 12 million active users and boasting over $98 billion in processed transactions so far. Notable strategic partners, including the online gaming store Weo Games, support Binance Pay’s Brazilian debut.Cryptocurrencies are growing in popularity as a peer-to-peer payment method due to their enhanced transaction speed, anonymity, low cost, and security. A survey by accounting firm Deloitte found that almost three of four US consumer businesses intend to integrate crypto payments by 2023 year-end.The latest move allows Binance to explore Brazil’s growing crypto market, which is recognized as one of the countries with the highest rate of crypto adoption, ranking 7th worldwide.
| Information |
Details |
| Geography |
South America |
| Countries |
🇧🇷 |
| Sentiment |
positive |
| Relevance Score |
9 |
| People |
Guilherme Nazar, Deloitte, Chainalysis. |
| Companies |
Binance, WordPress, Weo Games, Valorant, Deloitte |
| Currencies |
Bitcoin, Ethereum, Binance Coin, Tether USD, Brazilian Real |
| Securities |
None |
