Binance and its users of “Binance pay users”, will now be able to pay merchants and make payments for goods purchased on E-commerce giant, shopify through the Bitcoin.
The world’s largest cryptocurrency exchange by its number of trading volumes, are said to be actively and aggressively expanding and looking out for various means and ways in which crypto payments can finally become an acceptable means of tender for services and purchase of goods.
On Tuesday, Binance announced its partnership which they it entered with the Crypto- fiat payment platform Alchemy pay. This partnership is said to allow a peer-to-peer (p2p) crypto payments to be done seamlessly by its over 2 million merchants through its Binance pay application.
This new idea allows its users and merchants to be able to pay and accept payments with crypto. It is said to support over 40 cryptocurrencies with Bitcoin and Ethereum, at the forefront of it.
Alchemy will be the channel through which Shopify users can now begin to make crypto related transactions while buying from Shopify. This is according to a press release statement from Alchemy. Shopify users can begin to use tokens like bitcoin, tether, Ethereum, bitcoin cash, Litcoin, Gemini dollar, and Alchemy pay(ACH), the primary token for the Alchemy firm.
The acceptance of crypto payments by Shopify, is a huge boost for the crypto space. With Shopify estimated to be worth a $120 billion company, this partnership would allow the Online store to join forces with the 2 Million merchants whom are already in business with Alchemy pay.
To attract and support this move, it is said that payments made by merchants via crypto, shall not attract any fees nor charges until further notice.
