Binance Pay, the cryptocurrency payment platform designed by Binance exchange has partnered with popular stabelcoin issuer, Circle to expand the adoption of USDC ($1.00). Binance confirmed the development in a post on its official X page.

According to the post, USDC was also adopted by the exchange to serve as the default currency for Binance pay users. This enhancement now allows users to benefit from instant peer-to-peer transfers while saving costs through the use of USDC.

As revealed, both Binance Pay and Circle are teaming up to provide users with a simple, secure, and practical way to use crypto for day-to-day transactions. In addition, the partnership also aims to seamlessly bridge the gap between digital assets and real-world spending.

With this, users can now use USDC via Binance Pay to shop with over 32,000 merchants worldwide. Also, by combining USDC with the payment platform, crypto becomes more practical for everyday life. However, it is worth noting that USDC is redeemable 1:1 with USD. In addition, the stablecoin also complies with leading regulatory frameworks, further making it ideal for real-world crypto payments.

It is worth noting that the relationship between Binance Pay parent’s company, Binance Exchange didn’t start today. In December 2024, Binance entered into a strategic partnership with Circle to support the financial services ecosystem and the advancement of the cryptocurrency market.

As revealed, the partnership aimed to create more avenues for stablecoin enthusiasts to use stablecoin, further fostering its adoption on a global market scale. The partnership also availed Circle’s USDC with more trading pairs and special promotions, thus elevating stablecoins status in the digital asset markets.

Binance Pay partners with xMoney to facilitate crypto payment access

Similarly, Binance Pay has also been working closely with various payment providers to eliminate barriers associated with cryptocurrency payments. In February, it partnered with xMoney, a web3 payment provider in Europe to facilitate crypto payment access to over 20,000 merchants globally. As revealed, the partnership between Binance Pay and xMoney aimed to elevate payment experience for both merchants and consumers by providing access to a faster, cost-effective, and user-friendly payment options.

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