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Agreement between Binance and Coinbar to offer direct payments with cryptocurrencies. From today, over 168 million people, i.e. registered users of Binance, thanks to the partnership with Coinbar, an Italian exchange specialized in digital payments, will be able to use cryptocurrencies to make purchases directly in stores, for the moment in Europe, at merchants affiliated with Coinbar and without paying additional commissions.
In 2023, the total value of the cryptocurrency market reached $1.54 trillion and is expected to grow further in 2024. This development is due to several factors, such as: increased interest from institutional investors, governments and businesses and the growing popularity of cryptocurrencies as a payment method.
Binance is the largest cryptocurrency exchange in the world. Today the platform has over 168 million registered users in 45 countries and a daily trading volume that exceeds $50 billion. Coinbar is a regulated cryptocurrency exchange based in Italy. In addition to the canonical exchange tool, its mission is the union of the real economy with the virtual one through the creation of an integrated platform with merchant services aimed at business owners called Coinbar Pay. This system allows merchants to accept payments in cryptocurrencies, automatically making the exchange into euros, so as not to be exposed to the typical volatility of cryptocurrencies.
Fifteen years ago Satoshi Nakamoto launched Bitcoin
«The partnership with Binance Pay is the best way to start 2024 by continuing to follow our vision with courage and coherence, demonstrating that Italy is at the forefront in the digital payments sector – explains Fabiano Taliani, COO of Coinbar -. Cryptocurrencies are not the future but the present of an increasingly digital and cashless purchasing experience that satisfies all generations. We are proud to be alongside Binance, to offer their users the opportunity to pay directly from their wallet, in cryptocurrencies, which, thus, further establish themselves as everyday objects.”
Gianluigi Guida, country manager of Binance Italy, said: «We are thrilled to announce our partnership with Coinbar, a significant move aimed at improving the experience of our Italian Binance community. This partnership allows Binance Italia users to make cryptocurrency transfers and represents an important step in making cryptocurrencies a tangible part of our users’ daily lives.”