The partnership with the "super app enabler" will allow users to pay for taxi services and food deliveries with crypto using Binance Pay.
The world’s largest cryptocurrency exchange, Binance has partnered with Splyt, a “super app enabler,” to bring payment options to the Binance application. Payment options made for Splyt services include cryptocurrency.
When live, the integration will allow Binance users to pay for ridehailing services, but “also bikesharing, scooters, airport transfers, public transport and even food delivery,” a Splyt spokesperson told Cointelegraph.
A spokesperson at Binance told Cointelegraph that they’re “excited to see crypto and blockchain taking on more use cases and real-life applications.”
As per usual, Binance CEO Changpeng Zhao, better known as “CZ,” helped to break the news on Twitter:
Book your ride with #Binance, and pay in crypto (no need to convert to fiat).https://t.co/ueGYyy6XVm
The news comes as some relief to Binance, which suffered issues related to “stuck transactions” on Bitcoin (BTC) withdrawals on Monday. The problem was resolved eight hours later.
A Splyt spokesperson told Cointelegraph that it would be the “first partnership in the cryptocurrency space” and faced with perilous price action with Bitcoin sub $25,000, “Splyt is enthusiastic about its development.”
For Binance, it’s no secret they’re keen to get a foothold in the crypto payments space. The Binance spokesperson told Cointelegraph that “The ability to use crypto as a medium of exchange could also attract more non-crypto and mainstream users to embrace crypto.”
For CZ, payments and app integrations are meant to up the omnipresent Binance brand awareness. Since the world has gradually reopened following the depths of the COVI-19 pandemic, CZ has undertaken a world tour, pitching crypto and Binance Pay to countries and investors all around the world.
Related: Binance Australia CEO: Regulations will establish higher standards in crypto
The report says that Binance is already used by 90 million users in over 150 countries worldwide. For Splyt, the partnership opens the door to a broad customer base:
Critically, as companies such as BlockFi, Gemini and most recently, Coinbase report staff reductions, the news is further evidence that Binance is doubling down into the bear market. Another feather to its cap, Binance continues to expand operations and roll out capital expenditure.
