Cryptocurrency and blockchain provider Binance, has launched its payments technology company ‘Bifinity’ in order to make fiat to cryptocurrency exchanges as seamless as possible.
Binance is aiming to help businesses adopt crypto by reaching new audiences and with its improved integration of fiat-to-crypto transactions with the launch of its new programme.
In addition to the company’s launch, Bifinity has made a ‘strategic partnership’ with cryptocurrency exchange company EQONEX.
The newly forged partnership will look to ‘maximise business synergies’ whilst also looking to expand businesses and explore new capabilities.
“As the crypto and the Web3 economies continue to grow, we see greater demand to build improved fiat-to-crypto on- and off-ramps to bridge the gap between the traditional finance industry and the decentralised and centralised crypto economy,” stated Helen Hai, President of Bifinity.
“Binance’s vision is to increase the freedom of money globally and through the launch of Bifinity, and with these strategic partnerships with EQONEX, Paysafe and Checkout.com, we aim to accelerate mass crypto adoption.”
Regulated by the Financial Conduct Authority (FCA), EQONEX centres its aims on trading and selling EQONEX crypto exchange and an institutional-grade digital asset investment solutions focus.
The partnership with EQONEXT allows Bifinity to share its vision of regulating and converting fiat-based currency over to cryptocurrency without any friction in hope to make it a desirable currency for future businesses.
Chi-Won Yoon, Chairman of EQONEX, commented: “We are extremely pleased to team up with Bifinity in a partnership that is likely to be transformational for both companies and for the industry at large.
“Bifinity shares our strong belief in helping to bridge the world of traditional finance with cryptocurrencies, as well as our conviction to operate to the highest standards of investor protection, regulatory oversight, security and governance.”
Furthermore, with Bifinity’s ambition to upgrade its on-ramp payments, it has recently announced a new partnership with PaySafe in order to integrate enhanced fraud detection.
Bifinity will look to implement PaySafe’s card processing service in the UK and the rest of Europe in the coming months.
“With the launch of Bifinity, they are now taking their growth to the next level,” added Philip McHugh, CEO, Paysafe
“Paysafe is proud to partner with Bifinity providing a full range of payment solutions, as well as leveraging our deep regulatory and compliance capabilities. Starting with digital wallets and real-time banking solutions, we look forward to expanding the relationship with more products and geographies as we help the team achieve their growth ambitions.”