Maximise your Metaverse potential with Ommyo, dedicated to giving you 0.5% rewards daily. I'm going in!

Binance's new affiliate Bifinity to concentrate on crypto payments

3 min reading

Start making MONEY trading crypto! Follow professional Trading signals for FREE >>> JOIN

Eqonex, a Nasdaq-listed digital asset company, will receive a $36 million convertible loan from Binance's new payment subsidiary Bifinity.

Binance, the world's leading crypto exchange by trading activity, is creating its own crypto payment service to enhance its fiat-to-crypto payments technology.

Bifinity, Binance's official fiat-to-crypto payment company, was established on Monday to integrate crypto service providers with the traditional financial system, as per the crypto exchange.

Bifinity offers over 50 cryptocurrencies, including famous coins such as Bitcoin (BTC) and Ether (ETH), and also major payment platforms like Visa, Mastercard, and others.

The latest crypto payment platform enables merchants and enterprises to embrace and offer crypto services to their customers by allowing them to provide buy-and-sell crypto services and also API crypto payment integrations.

Bifinity has collaborated with various crypto firms, including Eqonex, a Nasdaq-listed digital asset investment firm, as part of its inaugural attempt to overcome the gap between the crypto industry and traditional finance.

According to a different release by Eqonex, Bifinity has signed a strategic collaboration with Eqonex to offer a $36 million convertible loan to mutually extend the firms' services, including Eqonex's crypto custody solution Digivault. Bifinity will also be able to select the chief executive officer, chief financial officer, and chief legal officer of Eqonex, and also designate two seats on the Eqonex Board of Directors, from within its own firm. Eqonex is well-known for its Bitcoin investing options, such as BTC futures.

Eqonex chairman Chi-Won Yoon said, "This transaction marks the next logical step in our company's evolution, representing an important opportunity to grow our footprint and expand our regulated offerings for the benefit of our customers and shareholders."

Bifinity will work with key crypto wallet providers and blockchain platforms, including Safepal and Ziliqa, to offer fiat on- and off-ramp options to their clients, in addition to Eqonex. Bifinity is also collaborating with Paysafe, a specialist payments platform, and, a global payment processor.

The demand for new fiat-to-crypto on ramps has been increasing, according to Bifinity president Helen Hai, as the "crypto and Web3 economy continue to grow."  “At Binance, the vision is to increase the freedom of money globally. With the launch of Bifinity, we aim to accelerate mass crypto adoption,” she said.

Binance's head of nonfungible token and fan token division, and also the head of the global fiat exchange, are all roles Hai has served thus far. Her LinkedIn page also says that she is the current head of the Binance charity foundation and interim head of mergers and acquisitions currently.

Currency Exchange rate Buy cryptocurrency

Ommyo News
Start making MONEY trading crypto! Follow professional Trading signals for FREE >>> JOIN

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Ommyo.Net ( Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Ommyo.Net c/o Fintech Labs Global Solutions, Unit 303, Ile Du Port, Mahe, Seychelles

The full document to read the ommyo privacy policy is available in this document.

Advanced settings can be changed in your browser.