Binance overhauls Binance Connect to enable smooth fiat-to-crypto transactions for Web3 businesses 
Cryptocurrency Oct 24, 2024 Share
Binance, the world’s largest cryptocurrency exchange, has tweaked its Binance Connect service to streamline fiat-to-crypto transactions for Web3 projects, as confirmed to Finbold on Thursday, October 24.
The revamped Binance Connect service helps businesses simplify crypto trades to integrate into Binance’s existing platform and enhance user experience and efficiency.
Integrated within third-party platforms, Binance Connect allows eligible Binance users to manage crypto transactions from their decentralized finance (DeFi) wallets directly.
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The new Binance Connect
Supporting over 100 fiat currencies and 300 cryptocurrencies, along with 300 payment methods, Binance Connect offers a wide range of transaction options, including traditional and digital payment solutions (i.e., Apple Pay and Google Pay), as well as Binance’s own peer-to-peer marketplace (P2P).
Thomas Gregory, Binance’s Vice President of Fiat at Binance, described Connect as ideal for Web3 projects, stating:
“Binance Connect is the ideal solution for Web3 projects, allowing them to focus on what they do best while using Binance’s wide-ranging suite of payment capabilities. By managing the regulatory and operational aspects involved in fiat-to-crypto transactions, Binance Connect makes it easy for businesses to add on- and off-ramp solutions, enabling users to buy and sell cryptocurrencies effortlessly. With a global user base of over 230 million, Binance Connect bridges the gap between fiat and crypto, making digital currencies more accessible and empowering users to explore the full potential of Web3.”
Gregory further added:
“This streamlined approach allows Web3 partners to enhance their offerings without the usual complexities of integrations, enabling them to focus on business growth while delivering significant value to their users.”
Binance Connect offers partners near-market prices through its competitive pricing model, benefiting from Binance’s leading liquidity provider status.
The integration process is simple, requires minimal technical resources, is free for partners, and complies with regulatory standards, enabling confident integration.
Binance Blockchain Week event in Dubai
Binance Connect will be showcased during Binance Blockchain Week in Dubai on October 30–31.
During the event, Thomas Gregory will discuss how Web3 businesses can benefit from the new Binance Connect features.
Integrations are already underway across various platforms, and users are expected to access Binance Connect by late November.