【Function Post | 21 Million Merchants Accept Binance Pay - What Can You Do with Your Crypto?】
You might not have noticed: the USDT in your Binance account can now be directly spent at over 21 million merchants worldwide, and that's what Binance Pay is all about.
━━What is Binance Pay?━━
Binance Pay is an integrated crypto payment system within the Binance App, allowing you to pay directly with your crypto assets in your account, without withdrawing funds, incurring fees, or needing an additional wallet.
You don't need to install any new apps; just open the Binance App to use it.
━━What Can You Do?━━
✅ Send money to anyone (P2P Transfer)
• Supports over 400 cryptocurrencies for peer-to-peer transfers
• Zero gas fees. Just scan or input the Binance ID to send
• Supports mainstream assets like USDT, USDC, BNB, BTC, ETH, etc.
✅ Spend at Merchants
• Over 100 cryptocurrencies can be used for payments at online and physical merchants
• You can adjust which asset to use as a priority at checkout, no need to change default settings
• If a single asset balance is insufficient, the system automatically combines other assets for settlement
• Refunds are returned in the cryptocurrency accepted by the merchant
✅ Stablecoins Dominate
By 2025, stablecoins will account for over 98% of B2C payments made through Binance Pay to consumers, indicating that the real-world application of crypto payments is centered around stablecoins.
━━Where Can You Use It?━━
Globally covered: Latin America, Africa, the Middle East, Europe, Asia
Some partner merchants: JW Marriott, KFC, SPAR supermarkets, and tens of thousands of small to medium-sized merchants
Argentina: Integrated into the local QR code payment network, covering millions of QR code payment points
Bhutan: The tourism board is onboard, allowing tourists to use crypto for visas, accommodation, and local services.
━━What About Binance Card?━━
The Binance Card (Visa/Mastercard physical card) is another channel - in cases where Binance Pay is not supported, you can still spend using the physical card, which will still draw from your Binance account balance. Together, they form a complete spending scenario covering app payments + physical card payments.
━━Why Is It Worth Noticing?━━
From "buying and selling crypto on Binance" to "spending Binance money worldwide" - this is a significant step in transforming cryptocurrency from an investment tool into a payment tool.
BNB also has a unique application scenario within the Binance Pay ecosystem: using BNB for payments offers fee discounts, which is one of the values of holding BNB.
You might not have noticed: the USDT in your Binance account can now be directly spent at over 21 million merchants worldwide, and that's what Binance Pay is all about.
━━What is Binance Pay?━━
Binance Pay is an integrated crypto payment system within the Binance App, allowing you to pay directly with your crypto assets in your account, without withdrawing funds, incurring fees, or needing an additional wallet.
You don't need to install any new apps; just open the Binance App to use it.
━━What Can You Do?━━
✅ Send money to anyone (P2P Transfer)
• Supports over 400 cryptocurrencies for peer-to-peer transfers
• Zero gas fees. Just scan or input the Binance ID to send
• Supports mainstream assets like USDT, USDC, BNB, BTC, ETH, etc.
✅ Spend at Merchants
• Over 100 cryptocurrencies can be used for payments at online and physical merchants
• You can adjust which asset to use as a priority at checkout, no need to change default settings
• If a single asset balance is insufficient, the system automatically combines other assets for settlement
• Refunds are returned in the cryptocurrency accepted by the merchant
✅ Stablecoins Dominate
By 2025, stablecoins will account for over 98% of B2C payments made through Binance Pay to consumers, indicating that the real-world application of crypto payments is centered around stablecoins.
━━Where Can You Use It?━━
Globally covered: Latin America, Africa, the Middle East, Europe, Asia
Some partner merchants: JW Marriott, KFC, SPAR supermarkets, and tens of thousands of small to medium-sized merchants
Argentina: Integrated into the local QR code payment network, covering millions of QR code payment points
Bhutan: The tourism board is onboard, allowing tourists to use crypto for visas, accommodation, and local services.
━━What About Binance Card?━━
The Binance Card (Visa/Mastercard physical card) is another channel - in cases where Binance Pay is not supported, you can still spend using the physical card, which will still draw from your Binance account balance. Together, they form a complete spending scenario covering app payments + physical card payments.
━━Why Is It Worth Noticing?━━
From "buying and selling crypto on Binance" to "spending Binance money worldwide" - this is a significant step in transforming cryptocurrency from an investment tool into a payment tool.
BNB also has a unique application scenario within the Binance Pay ecosystem: using BNB for payments offers fee discounts, which is one of the values of holding BNB.