Binance has announced a partnership with Ingenico to launch a blockchain payment solution in France. This move is part of Binance’s renewed ambition to expand its global operations through partnership.
The world’s largest cryptocurrency exchange by trading volume recently obtained regulatory approval in the region.
Binance Pay will now be available at two major outlets that use Ingenico’s payment terminals: the Miss Opéra clothing store and the Le Carlie bar.
The director of Binance Pay and Binance Card, Jonathan Lim, praised Ingenico’s payment terminals, noting that they give Binance a soft landing, reducing the burden of having to create new inventions. Lim also added that the payment medium is designed to accept at least 50 cryptocurrencies.
Investors King learned that after the pilot, Ingenico plans to deploy its new crypto payments solution in other European countries where Binance is regulated.
Meanwhile, Binance’s CEO, Changpeng Zhao, has hinted that Binance is being specifically targeted by U.S. regulators due to its influence in the crypto market. Binance is currently facing regulatory action from regulators in the U.S. due to the SEC crackdown against crypto. This has caused Binance to sever ties with its partners in the U.S. The company was also recently in the news for a crackdown on Binance USD, which it issued in partnership with Paxo.
Binance’s new partnership with Ingenico is a milestone for global crypto adoption, and it makes crypto payments easier in France. The move is also an indication of Binance’s commitment to expanding its global reach through partnerships, despite regulatory actions in certain regions.
