The team behind the Shiba Inu ecosystem showcased the significant role Binance played in empowering SHIB holders through its innovative payments platform, Binance Pay. The 17th edition of Shib Magazine, released on March 20, 2024, shed light on this partnership, underlining the seamless integration of Shiba Inu into the Binance Pay ecosystem since November 2022.
Binance Pay, a pioneering contactless payment technology, has emerged as a game-changer for SHIB enthusiasts, enabling them to utilize their holdings for real-world transactions. Since its integration, Binance Pay has collaborated with leading payment providers, facilitating SHIB holders’ ability to purchase goods and services across various e-commerce platforms, travel destinations, and even gift cards for loved ones.
SHIB holders benefit from Binance pay integration
One of the paramount benefits highlighted by the Shiba Inu team is the ability for SHIB holders to utilize their crypto profits directly through Binance Pay, without the need to convert their assets into fiat currency. This capability has become increasingly relevant amidst the recent surge in crypto asset prices, with SHIB reaching a notable peak earlier this month. Encouraging users to harness their SHIB gains for everyday transactions underscores the growing utility and accessibility of cryptocurrencies in daily life.
Moreover, the publication underscores the remarkable strides made by Shiba Inu within the Binance Pay ecosystem. Notably, Shiba Inu-related transactions on Binance Pay witnessed a substantial surge of over 30% year-over-year between 2022 and 2023, cementing its position as one of the top-performing assets within the platform. Additionally, Shiba Inu ranked among the top 6 most popular crypto assets by transaction count on Binance Pay during this period, further affirming its growing adoption and relevance in the digital payments landscape.
Binance pay widens Shiba Inu acceptance across borders
Binance’s strategic partnerships have played a pivotal role in driving Shiba Inu’s adoption as a viable payment method. Notably, collaborations with industry players like CoinGate, Bin Faqeeh, and Ingenico have facilitated the integration of SHIB across various merchants and service providers worldwide. From enabling real estate purchases to fostering acceptance in retail stores and online platforms, these initiatives underscore Binance’s commitment to expanding the utility and accessibility of Shiba Inu as a payment asset.
Furthermore, Binance Pay’s reach extends beyond traditional borders, with SHIB payments now accepted in nine Latin American countries, including Colombia, Mexico, and Argentina. This expansion into new markets reflects Binance’s ongoing efforts to make cryptocurrencies like Shiba Inu more accessible and usable on a global scale. As Binance continues to forge strategic alliances and integrate with additional payment providers, Shiba Inu is poised to witness further adoption and integration into mainstream commerce.
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