Binance Launched Bifinity, The Fiat-to-Crypto Payments Provider

Binance launched Bifinity, the fiat-to-crypto payments provider which will allow direct transfers as we are reading further in our Binance news.

The world’s biggest exchange released a fiat-to-crypto payments provider dubbed Bifinity. The company aims to help other businesses become more ready for crypto and allow them to transfer funds through the new feature. The official press release informed that Bifiniy supports about 50 digital assets and other payment methods which include Visa and Mastercard.

Merchants will be able to employ simple and seamless API Integration to prepare their businesses for crypto payments. The company also promised low-cost payment processing fees for the customers and the KYC onboarding process, as the president Helen Kai explained:

“As the crypto and the Web3 economy continue to grow, we see greater demand to build improved fiat-to-crypto ramps to bridge the gap between traditional finance and the decentralized and centralized crypto economy. With the launch of Bifinity, we aim to accelerate mass crypto adoption.”

The new venture collaborated with other companies already like PaySafe that will provide deeper regulatory know-how for payments and embedded finance solutions that will act as a white-label digital wallet. The parties involved aim to expand these services in Latin America while Bifinity wants to integrate the Paysafe card and its processing services in Europe and UK by the end of this year as Binance launched Bifinity.

As recently reported, Binance charity donated $2.5 million in crypto to UNICEF as a gesture for the children of Ukraine during times of war. Binance donated to help the children of Ukraine in the country’s war against Russia which joined a wave of individuals in the crypto ecosystem that started giving money and taking a stand for the struggling in the country.

Binance Charity as the nonprofit charitable arm of Binance announced a $2.5 million in crypto donated to UNICEF and the goal is to help cover the organization’s expenses as it supports Ukrainian children and families that were heavily affected by the war. In the official statement, UNICEF thanked Binance for the contribution and assured that the money came at the right time with the escalation of the armed conflict is affecting the population.

The world’s biggest crypto exchange by tradign volume Binance comes back to Malaysia with a strategic stake in the country’s regulated digital asset trading platform MX Global. Cuscapi Berhard and Binance acquired a stake in MX Global as one of the four recognized Market Operators, the Digital Asset Exchange licensed by the SC in Malaysia.