Binance Launches Crypto Payment Options Including Shiba Inu In Brazil

Binance has expanded its digital asset payment methods to Brazil through partnership deals with some merchants.

The move includes Shiba Inu as a payment option, offering its proponents more ground to use SHIB to pay for goods and services in Brazil. WordPress is among the partners of the leading crypto exchange in this latest expansion.

Binance Launches Its Crypto Payment Solution Binance Pay in Brazil

On August 22, the global biggest blockchain ecosystem, Binance, announced the expansion of its crypto payment solution to Brazil.

The borderless and contactless crypto payment solution, Binance Pay, is part of Binance's plan to offer seamless crypto payments for different levels of merchants within Brazil.

We're excited to announce that #Binance Pay has now launched in Brazil!

Local businesses in the country can now access all the benefits of accepting crypto payments, including increased speeds and lower costs.

Find all the details below. https://t.co/s2av5QsCNC

- Binance (@binance) August 22, 2023

The emergence of Binance Pay in Brazil allows businesses within the country to provide the crypto payment option to their customers.Also, the payment solution necessitated some collaborations between Binance and other firms like WordPress and Weo Games.

Among the numerous benefits of the solution are fast processing time and low fees. So, local merchants using exchange Pay are expected to see a massive influx of clients and huge sales volumes.

Reacting to the new development, Binance's General Manager in Brazil, Guilherme Nazar, disclosed some of the expectations from the move.

He stated:

We expect this launch to be especially relevant for businesses in Brazil, as the country registers one of the highest crypto adoption increase rates.

Notably, the crypto exchange launched its payment solution, Binance Pay, in 2021. The solution has seen wide acceptance and supports more than 70 crypto assets.

Brazil-Based Businesses Now Accepts Shiba Inu

The new expansion move from Binance into Brazil has created an opportunity for increased exposure and adoption of crypto assets in the country.Among the key crypto assets in the payment methods is Shiba Inu, which has recently witnessed increasing utility and growth.

Following the launch of Exchange Pay, merchants in Brazil will start accepting SHIB for payment of goods and services. This will add to Shiba Inu's utility and attract more users to its ecosystem.

Notably, Binance Pay included support for SHIB in Nov 2022. The addition expanded Shiba Inu payments to thousands of merchants in different countries, including Latin America and France.

Generally, Shiba Inu is among the top meme coins that offer numerous use cases to its proponents while maintaining its meme characteristics. Moreover, the protocol has witnessed several developments in its ecosystem that boost its functionalities and growth.

Meanwhile, SHIB is trading at $0.000008224, indicating a surge of 3.27% over the past 24 hours. It now boasts a market cap of over $4.85 billion and a 24-hour trading volume of $210.5 million.

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