Binance Pay, the payment service of cryptocurrency giant Binance, has partnered with CityPay, a leading cryptocurrency payment system. This collaboration is expected to offer numerous benefits to the Georgian crypto community, allowing them to use digital assets for making online purchases or payments via POS terminals. According to the announcement, this partnership is a major step towards allowing users in Georgia to spend at more than 600 other vendors, including major hotels, restaurants, and supermarkets.
According to Eralp Hatipoglu, Co-Founder and CEO of CityPay, the demand for crypto payments in Georgia has been rapidly increasing. To accommodate this growth, the company partnered with Binance to create an environment where businesses can offer customers a new, convenient payment option. Binance plans to collaborate with local companies in all sectors to provide Georgian customers with unlimited options through Binance Pay.
As of 2022, 128 million people were registered on the exchange, and 22 million had begun using Binance Pay; together, they have conducted over $48 billion worth of transactions. It is clear that the cryptocurrency market in Georgia is actively developing.
Making crypto payments through Binance Pay
Launched in 2021, Binance Pay is a borderless, contactless, secure crypto payment feature on the Binance app. To make crypto payments through the CityPay POS terminal, you only need to open Binance Pay on your phone. Then scan the QR Code on the crypto terminal. Confirm the transaction via SMS to make payments.
Binance has declared that it is focused on improving crypto adoption worldwide. However, its integration on CityPay is one move out of many the crypto exchange is making towards ensuring worldwide crypto adoption.