Binance, the world’s largest crypto exchange, has collaborated with Splyt, a “super app enabler,” to bring its crypto services to the Binance application.
According to a Splyt spokesperson, Binance users will be allowed to pay for services like food delivery, scooters, bike-sharing, public transport, and airport transfers once the integration goes live.
Binance CEO, Changpeng Zhao (CZ), also confirmed the news via tweeter.
— CZ 🔶 Binance (@cz_binance) June 14, 2022
A relief to Binance after “stuck transactions” issues
This partnership comes as a relief to Binance after experiencing some issues related to “stuck transactions” leading to the suspension of Bitcoin (BTC) withdrawal on its platform yesterday, June 13. However, the issue was resolved within eight hours.
A Splyt spokesperson noted that this will be Splyt’s “first partnership in the cryptocurrency space” at a time when the crypto market is trading sideways with the largest crypto (BTC) trading as low as $22,219.81, down 67.70% from its all-time high of $68,789.63 it set 7 months ago.
However, Splyt is confident with its development saying:
“Increasingly, users are turning to their crypto wallets to pay for everyday services. […] Fully integrating everyday services as an obvious next step for crypto wallets.”
Undoubtedly, Binance’s driving force is toward dominating the crypto payment space, and according to CZ, Binance payments and app integrations are being implemented to up the game for the universal Binance brand awareness.
Binance global mission
Following the Covid-19 pandemic recovery, CZ has been touring the world intending to introduce Binance and crypto pay to investors and countries across the globe.
According to the reports, Binance is already being used by about 90 million users in over 150 countries globally. With the new partnership, it will be a great opportunity for Splyt in terms of customer base:
“The other perspective is equally important: mobility and other on-demand services can dramatically increase acceptance and transaction volumes, by being available through crypto platforms, who together have hundreds of millions of users.”
Despite companies like Gemini, BlockFi, and Coinbase staff laying off, Binance news shows that it is gaining traction in the bear market as it also continues to roll out capital expenditures and expand its operations.