Fintech company Inswitch has partnered with the payment service of leading cryptocurrency exchange Binance. The new strategic partnership seems to herald big developments for Shiba Inu at Binance Pay.
Binance Pay partners with fintech company Inswitch
The partnership is of particular interest to crypto investors living in Latin America. Accordingly, Binance and Inswitch aim to enable merchants located in South America to accept crypto payments. This region serves as a key to Inswitch’s growth, with most of its activities concentrated directly in South America and Africa. Both Binance Pay and Inswitch aim to reach 650 million users in the future. That’s equal to the entire population of Latin America, and it’s quite possible that crypto payments will provide that.
Shiba Inu could reach millions of people in the future
A press release covering the news was talking about cryptocurrencies. Accordingly, as a result of the interaction between Binance and Inswitch, participants in the program will have the opportunity to accept payments in more than 50 cryptocurrencies. These cryptocurrencies include Shiba Inu (SHIB), Bitcoin (BTC), and Ripple (XRP). In addition, the joint efforts of the companies include the ability to make payments through Binance Pay. However, the processing and management of payments will take place through Inswitch’s APIs. The joint efforts of the companies will enable a rapid transition to this business model.
SHIB is listed on Binance Pay
In recent weeks, Binance Pay has continued to expand its business in the crypto space. There are more and more reports on this subject. The expansion of Binance Pay’s scope also contributes to the adoption of cryptocurrencies. Accordingly, there is an increase in the application area of cryptocurrencies supported by the payment service. Shiba Inu is also among the cryptocurrencies supported by the payment service Binance Pay.
SHIB has been reaping the benefits of this ever since it was incorporated into Binance Pay. The service has announced partnerships with companies in the UAE, with Mastercard in Argentina. It now targets the entire Latin American region. In the future, the widespread use of Binance Pay will continue to exist as a factor supporting the price of Shiba Inu and other supported cryptocurrencies.
What is the price of the Shiba Inu?
Shiba Inu price has been moving mostly in correlation with Bitcoin in recent months. As cryptokoin.com reported, developments regarding the Shibarium launch and the much anticipated Shiba Eternity game have resulted in some minor gains in price. However, it has not led to any significant gains for the leading meme coin so far. At the time of writing, SHIB price is down 4.31% in the last 24 hours and is currently trading at $0.000012.
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