Bifinity is a new payment firm launched by Binance. It aims to provide traders with fiat-to-crypto payment services. Bifinity is already forming strategic alliances in the cryptocurrency industry.
Users will soon be able to make fiat-to-crypto transfers using Binance’s Bifinity. According to a press release on March 7, Bifinity will provide on/off ramp solutions. In regard, these solutions will enable the adoption of crypto for new companies and individuals. Moreover, crypto enthusiasts and companies of any level of expertise may join Bifinity in a very simple way. The key factor that makes joining so easy and without complications is the company’s user-friendly API.
Following on, the President of Bifinity, Helen Hai, shared the company’s primary goal. In addition, he noted that to bridge the gap between the traditional banking sector and the crypto economies, better fiat-to-crypto on and off-ramps are needed. Hai further added Binance’s objective. Correspondingly, its goal is to expand worldwide money freedom. With the introduction of Bifinity and the strategic alliances with EQONEX, Paysafe, and Checkout.com, the goal is to create broad crypto adoption.
In Bifinity’s announcement, Hai also notes the cooperation with EQONEX Limited. In addition to trading in digital assets, the company provides institutional-grade digital asset investing solutions and high-security crypto and digital asset custody solutions, among other things.
On the other hand, the chairman of EQONEX, Chi-Yoon, states his opinion on the collaboration with Bifinity. According to Chi-Yoon, Bifinity has a strong belief in helping to connect the worlds of conventional banking and cryptocurrencies. Also, he emphasizes their determination to operate to the highest levels of investor protections, regulator supervision security, and governance.
Given these points, Bifinity will become Binance’s official fiat-to-crypto payments provider. Accordingly, it will be assisting several enterprises and providers in their onboarding. However, this company is not partnering with just one company. It also established a deal with Paysafe, a specialist payment platform.
As per the CEO of Paysafe Philip McHugh, he added that the launch of Bifinity is taking Binance to the next level of their growth.
Another partnership announced is Checkout.com, a worldwide payment processor. Mac Rothman, the Vice President of Checkout.com, shared his thoughts on this collaboration. Rothman added that with the adoption of cryptocurrencies and NFTs, they anticipate global e-commerce to continue to outpace conventional commerce growth.