Hassan Maishera
Binance, the global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and users, announced on Thursday, October 24th, that it has revamped Binance Connect to provide an innovative solution tailored for Web3 projects facilitating efficient fiat-to-crypto transactions.
In a press release shared with Cryptowisser, Binance said Binance Connect now offers businesses a ready-to-use tool for processing transactions, allowing their users to buy and sell cryptocurrencies effortlessly. The revamped Binance Connect product fully integrates with Binance’s existing services, enhancing usability and efficiency.
According to Binance, when integrated into third-party platforms, Binance Connect allows users with a Binance account who have completed KYC in eligible countries to directly buy and sell cryptocurrencies from their DeFi wallets.
Binance Connects supports over 100 fiat currencies and 300 cryptocurrencies, along with 300 payment methods. This provides users with a diverse array of transaction options. The service facilitates easy crypto purchases using traditional payment methods such as credit cards and bank transfers, digital payment methods such Apple Pay and Google Pay, as well as via Binance’s peer-to-peer (P2P) marketplace.
While commenting on this latest development, Thomas Gregory, Vice President of Fiat at Binance, said,
“Binance Connect is the ideal solution for Web3 projects, allowing them to focus on what they do best while using Binance's wide-ranging suite of payment capabilities. By managing the regulatory and operational aspects involved in fiat-to-crypto transactions, Binance Connect makes it easy for businesses to add on- and off-ramp solutions, enabling users to buy and sell cryptocurrencies effortlessly. With a global user base of over 230 million, Binance Connect bridges the gap between fiat and crypto, making digital currencies more accessible and empowering users to explore the full potential of Web3.”
The crypto exchange explained that Binance Connect provides partners with near-market prices, leveraging Binance’s position as a leading liquidity provider. The integration process requires minimal technical resources, is completely free for partners, and operates as a plug-and-play solution. It adheres to regulatory compliance measures that ensure partners can integrate with confidence.
Gregory added that,
“This streamlined approach allows Web3 partners to enhance their offerings without the usual complexities of integrations, enabling them to focus on business growth while delivering significant value to their users.”
Binance revealed that Thomas Gregory will showcase Binance Connect during Binance Blockchain Week, which takes place October 30-31 in Dubai. His presentation will provide further insights on how Web3 businesses can leverage this powerful solution.
Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. More than 230 million people in 100+ countries trust Binance for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings, from trading and finance to education, research, social good, payments, institutional services, and Web3 features.
