One of the top cryptocurrency payment processors on the market, CoinGate, has announced that it now supports Binance Pay. Specifically, Finbold reported the payment processor is now allowing companies to accept payments from Binance Pay users, additionally widening the consumer base that utilizes the platform.
Binance Pay is a service provided by the crypto exchange platform of the same name that makes crypto transactions easier. Moreover, the system functions similarly to PayPal, and also should greatly benefit the industry with its integration into the CoinGate payment processor functionalities.
CoinGate Announces Support of Binance Pay
According to Finbold, the top crypto payment processor, CoinGate, has announced it now supports Binance Pay users. Specifically, customers who use Binance Pay are able to send payments to CoinGate merchants following the collaboration of the two entities.
The collaborative effort between the two companies is undoubtedly a win for crypto payments. Now, users are able to find a convenient option for crypto payment processing purposes, in a host of industries and locations. Additionally, the connectedness of the Binance ecosystem allows Binance Pay users even greater freedom when using crypto in CoinGate stores.
CoinGate CEO, Justas Paylius, spoke on the importance of the partnership. Stating, “Our mission has always been the same — push for crypto adoption in all ways we can. That said, joining forces with Binance Pay is one of the most significant steps we can take right now to contribute to that goal. “
The report notes that the integration is “turned on by default,” and is accessed using the standard channels of integration. Moreover, it notes that following the first three months, Binance Pay will collect a 0.3% fee for using the service.