Binance brings cryptocurrency payments to Shopify

Binance

One of the most recognizable exchanges is significantly contributing to global cryptocurrency adoption. Binance Pay users will be able to make purchases with Alchemy Pay partners, including Shopify.

New partnership, broad opportunities

Binance is the world’s largest cryptocurrency exchange in terms of trading volume. At the same time, it is a platform that stands out from the rest with its very dynamic development. In March this year it introduced the Binance Pay service, which is a cryptographic payment technology that allows making and receiving transactions based on its own ecosystem.

It is because of this service that Binance has decided to launch its latest partnership. We are talking about Alchemy Pay, which is a hybrid platform dealing with, among other things, peer-to-peer cryptocurrency payments, bringing together as many as 2 million merchants. Binance will soon gain access to this special audience by offering them payments in as many as 40 possible cryptocurrencies.  Alchemy Pay operates in 65 countries around the world, and although Binance won’t initially have such a wide reach, it illustrates the potential future reach of the market.

One of Alchemy Pay’s most prominent customers is e-commerce giant Shopify.

Shopify and its essence

Shopify is a Canadian company listed on NASDAQ whose core business is e-commerce. It is an e-commerce platform that offers payment, marketing and product shipping services. Shopify also offers customer integration tools to help run mostly small online stores.

So much in theory, the practice is better reflected by the numbers showing the company’s statistics for 2020. You can see in them that the entire Shopify marketplace received as many as 59 million visits during that time. 40 million of them came from the United States. It is also a company with an extremely dynamic growth path. Its annual revenue was almost $3 billion. This is an 86% increase compared to 2019. Economists’ forecasts, in turn, predict that the ongoing year will bring Shopify as much as $3.6 billion.

The doors to cryptocurrencies are opening wider and wider

The statistics presented above best illustrate the dynamics of the development of the market, the beneficiary of which is Shopify. Such an instant reach to new users and a dramatically increasing number of them shows how wide opportunities are opening for Binance and cryptocurrencies. Shopify provides an opportunity for Bitcoin and altcoin adoption in a wider space than before. Moreover, it intensifies something that is the essence of how any kind of money works – it connects sellers with their customers. This is insanely important given the adoption of virtual coins in this space that we are seeing around us. 

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

What lies ahead for Cardano in 2022

What lies ahead for Cardano in 2022?

Charles Hoskinson, the creator of Cardano, shared what lays ahead for the smart contract ecosystem during one of his regular appearances on YouTube. So what is in…

Crypto trends that may occur in 2022

The beginning of a new year is a time of speculation about the future of the cryptocurrency market. The trends in 2021 were pretty clear, but will…
All articles loaded
No more articles to load

Knowledge Base

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are…
Polygon

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity…
All articles loaded
No more articles to load

Analyses

Bitcoin Price on a Larger Scale

Bitcoin Price on a Larger Scale

Short-term analysis can often make you shudder. Daily news, both positive and negative, puts the Bitcoin price in dynamic upward as well as downward movements.…
All articles loaded
No more articles to load

Knowledge Base

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain for investors. What distinguishes the…

What are stablecoins and how can you use them?

In recent years, cryptocurrencies are experiencing a real “boom”! And not just for cryptocurrencies – the rise in popularity applies to blockchain technology in general.…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND…

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity constantly growing? Support for Ethereum…

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies and global interest. But does…

Who is Satoshi Nakamoto?

The world’s biggest cryptographic mystery remains unsolved to this day. It is speculated whether Satoshi Nakamoto is a single person or perhaps the name of…
All articles loaded
No more articles to load