Binance exchange’s payment service, Binance Pay, has opened a new door that could open Shiba Inu (SHIB), and over 50 other cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH, to a needed exposure in Latin America (LATAM).
New Partnership Between Inswitch and Binance Pay to Favor SHIB
Binance Pay continues to bridge the gap between businesses and crypto payments. This payment technology (Binance Pay) designed and powered by Binance, the world’s leading blockchain ecosystem, has been adopted by Inswitch to enable businesses in Latin America to accept crypto payments.
According to a Tuesday Press Release, Inswitch, the top payment infrastructure, has signed a strategic partnership with Binance Pay to utilize its payment technology. As stated, this partnership will enable both sides to improve their fintech solutions while offering Binance Pay to all merchants in the Latin America region (LATAM).
Particularly, it is believed that the collaboration will boost crypto payment adoption in Latin America. Moreso, the development will bring a novel payment method that eliminates location boundaries to businesses in the region. Therefore, bringing about increased revenue for merchants.
Read Also: Shiba Inu (SHIB) Now Accepted In Over 170 Countries and 60 Million Businesses Via OKSE Crypto Card
Boosting Crypto Payments
Through this innovative partnership, Binance Pay and Inswitch will work on delivering a robust turnkey solution across a variety of sectors, including eCommerce, Retailers, Travel, and Banks among others in LATAM.
Per the announcement, merchants in Latin America will be able to receive payments in 50+ cryptocurrencies with lightning-fast payments, support new products or business models, and accept recurring payments globally.
Related: Bitcoin, SHIB, XRP, ADA Payments Debut in Argentina via Binance Card and Mastercard
“We are very excited and committed to democratize the payment industry, connecting more than 650 million in Latam with e-commerces around the world. Now merchants will have more options on how to get paid and let their customers choose how to pay wherever they are,” said Ronald Alvarenga, CEO of Inswitch.
Similarly, the global head of Binance Pay, Jonathan Lim commented; “We are thrilled to bring crypto payments to more than 650 million LATAM users by partnering with Inswitch, this keeps reinforcing Binance Pay’s objective of providing contactless, borderless, and secure cryptocurrency payment experiences to companies and consumers.”
It is worth noting that Binance Visa Card recently added support for Shiba Inu (SHIB), the popular dog-themed token. This implies that SHIB will be joining over 50 other cryptocurrencies that are meant to benefit from the partnership between Inswitch and Binance Pay.
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