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Web3 Support Service Binance Connect Relaunched by Exchange

Key Points:

Binance has introduced an enhanced Binance Connect, a fiat-to-crypto service specifically designed for Web3 projects.
The updated service supports over 100 fiat currencies, 300 cryptocurrencies, and various payment methods.

Binance has announced the launch of a better improved Binance Connect, a fiat-to-crypto service designed to better support the Web3 ecosystem.

Binance Unveils Improved Fiat-to-Crypto Service for Web3 Projects

The improved Binance Connect enables users to trade cryptocurrencies directly from their accounts with Binance through DeFi wallets, including but not limited to Trust Wallet.

Binance Connect now supports over 100 fiat currencies and more than 300 cryptocurrencies, offering a range of payment methods, thereby giving users flexible trading options and competitive pricing. The integration solves the peculiar problems of cryptocurrency businesses in the Web3 space by offering a wide-reaching fiat-to-crypto solution.

The service is aimed at making this integration process easier for crypto businesses, involving less technical resources while abiding by regulatory standards. Its partners can also use the liquidity provided by Binance to competitively price their offerings. Integration is free for partners, further opening access for Web3 projects.

Upcoming Showcase at Binance Blockchain Week in Dubai

Binance Connect launched first as Bifinity back in March 2022, with support for more than 50 cryptocurrencies and major payment options such as Visa and Mastercard.

However, that service did not develop as required, and its cryptocurrency payment service had to be closed last August 2023. The new Binance Connect is designed to overcome such obstacles and reportedly will be able to facilitate seamless transactions for various Web3 initiatives.

The multi-platform integrations are expected to start from the end of November. Binance’s Fiat Vice President, Thomas Gregory, is due to talk about the new solution at the Binance Blockchain Week on 30-31 October in Dubai.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.