The world’s largest cryptocurrency exchange, Binance has partnered with “Super App Enabler” Split to bring payment options to the Binance application. The payment options made for split services include cryptocurrency.
When live, the integration will allow Binance users to pay for ridehailing services, but also “bikesharing, scooters, airport transfers, public transport and even food delivery,” a Split spokesperson told Cointelegraph. Told.
As always, Binance CEO CZ helped spread the news on Twitter:
book your ride with #binanceand pay in crypto (no need to convert to fiat). https://t.co/ueGYyy6XVm
— CZ Binance (@cz_binance) 14 June 2022
The news came as some relief to Binance, which on Monday faced issues related to “stuck transactions” while withdrawing bitcoin (BTC). After eight hours the problem was resolved.
A spokesperson for Split told Cointelegraph that this would be “the first partnership in the cryptocurrency space” and with bitcoin facing price action below $25,000, “Split is excited about its development.”
“Increasingly, users are turning to their crypto wallets to pay for everyday services. […] Fully integrating everyday services as an obvious next step for crypto wallets.”
For Binance, it is no secret that they are keen to gain a foothold in the crypto payments sector. For CZ, payments and app integrations are meant to increase brand awareness of the ubiquitous Binance. As the world slowly reopens after the depths of the COVID-19 pandemic, CZ has embarked on a world tour, pitching crypto and Binance Pay to countries and investors around the world.
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The report states that 90 million users are already using Binance in more than 150 countries around the world. For Split, the partnership opens the door to a wider customer base:
“The second approach is equally important: mobility and other on-demand services can dramatically increase acceptance and transaction volume by being available through crypto platforms that have hundreds of millions of users.”
Crucially, this news is further proof that Binance is doubling in a bear market as companies such as BlockFi, Gemini and most recently Coinbase have reported staff cuts. Another feather in its cap, Binance continues to expand operations and roll out capital expenditures.
