Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the launch of Bifinity, a payments technology company and its official fiat-to-crypto payments provider. Bifinity’s on- and off-ramp solutions will empower businesses to adopt crypto and reach new audiences with easy, direct fiat-to-crypto transactions.

Bifinity announced the partnership it had with EQONEX Limited (NASDAQ EQOS). EQONEX Limited is the U.S.’s first publicly traded digital asset exchange. It offers regulatory-focused trading services, such as EQONEX cryptocurrency exchange and institutional-grade digital assets investment solutions. This includes an asset manager, upcoming launch of structured products and Digivault which are both FCA-regulated digital asset and crypto custody.

Bifinity will lend EQONEX a convertible loan of US$36million under terms. They will collaborate to maximise business synergies, capitalize on the opportunities for cooperation and further grow their companies.

Bifinity also announced its partnership with Paysafe, a leading international payments processor and specialist payments platform. This will allow the Web3 economy to expand cryptocurrency access worldwide and enable users to safely buy and sell crypto. Users will now be able buy or sell over 50 cryptocurrencies via fiat on and off-ramps. It’s fast, easy, and safe.

As the Web3 and crypto economies grow, there is greater demand for improved fiat to crypto on-and off-ramps. This will bridge the divide between the traditional financial industry and the decentralized and centralized crypto economy. Binance is determined to expand the freedom and adoption of crypto worldwide. With the launch of Bifinity and these strategic alliances with EQONEX and Paysafe, Binance aims to speed up mass cryptocurrency adoption.
Helen Hai is President of Bifinity.

Chi-Won Yoon Chairman, EQONEXToday’s statement:

We are delighted to partner with Bifinity and create a partnership that will be transformative for both the companies as well as for the entire industry. Bifinity shares our firm belief in helping bridge traditional finance and cryptocurrency. They also agree with our commitment to operating to the highest standards for investor protection, regulation oversight, security, and governance. This transaction is the next natural step in our company’s evolution and represents an opportunity for us to expand our offerings and increase our customer base, as well as our shareholders.
Bifinity’s payments infrastructure connects businesses, merchants and consumers to the world of crypto and blockchain – including buy/sell crypto services and API crypto payments integrations. By providing straightforward APIs that require minimal expertise, merchants and businesses, regardless of experience, can integrate Bifinity’s intuitive services and provide accessible crypto for their customers.

“We expect global e-commerce to continue outpacing the growth of traditional commerce—especially with the adoption of cryptocurrencies and NFTs,”
Max Rothman (VP Crypto at Checkout.com), said:.

Our payment rails power almost 80% global trade volume, and are already powered by the top crypto exchanges in the world. That’s why we have made the Binance platform and Bifinity our foundational partner. By working together, we lower the entry barrier for merchants that accept cryptocurrency payments and enable them to access the amazing Web3 opportunity.
Bifinity and Paysafe will partner to improve its on-ramp payment processing infrastructure. Future plans include enhanced fraud detection. Bifinity will be able to benefit from Paysafe’s deep regulatory knowledge of fiat and crypto payments. Paysafe’s embedded finance solution, which acts like a white label Bifinity digital wallet, has strengthened it’s on- and off-ramp capabilities and already enabled Bifinity to reactivate SEPA bank transfers and Faster Payments. Moving forward, through Paysafe, Bifinity will look to expand into Latin America where it has a market leading real-time payments offering and is in plans to integrate Paysafe’s card processing service in the UK and Europe over the next few months.

Philip McHugh CEO of Paysafe said:

Binance has a strong reputation as a leader in cryptocurrency, NFTs, and the rapidly-emerging Web3. They offer innovative services and products that their customers love. Bifinity is a key part of their continued growth. Paysafe is honored to have Bifinity as its partner. We offer a wide range of payment options and leverage our extensive regulatory compliance and compliance skills. We look forward to expanding our relationship with other products and countries as the team realizes their growth goals.
Bifinity was established in 2021 and has been powering Binance’s fiat-to-crypto on- and off-ramps, processing millions in transactions globally for Binance.com users and charging low payment processing fees to its merchants.

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