Binance, the world’s largest cryptocurrency exchange, has partnered with Splyt, a “super app enabler,” to bring payment options to the Binance application. Payment options made for Splyt services include cryptocurrency.
It has been reported that when LIVE, the integration will allow Binance users to pay for ridehailing services, but “also bikesharing, scooters, airport transfers, public transport and even food delivery.” The news comes as some relief to Binance, which suffered issues related to “stuck transactions” on Bitcoin (BTC) withdrawals on Monday. The problem was resolved eight hours later.
However, a Splyt spokesperson said that it would be the "first partnership in the cryptocurrency space" and faced with perilous price action with Bitcoin sub $25,000, "Splyt is enthusiastic about its development."
The spokesperson added:
“Increasingly, users are turning to their crypto wallets to pay for everyday services. [...] Fully integrating everyday services as an obvious next step for crypto wallets.”
The report said that for Binance, it's no secret they're keen to get a foothold in the crypto payments space. For CZ, payments and app integrations are meant to up the omnipresent Binance brand awareness. Since the world has gradually reopened following the depths of the COVID-19 pandemic, CZ has undertaken a world tour, pitching crypto and Binance Pay to countries and investors all around the world.
Thus, the announcement said:
“The other perspective is equally important: mobility and other on-demand services can dramatically increase acceptance and transaction volumes, by being available through crypto platforms, who together have hundreds of millions of users.”