- Binance Pay now accepts EURI, Banking Circle’s MiCAR-compliant e-money token.
- The partnership’s mission is to make digital currencies more accessible and widespread.
Binance Pay announced a strategic collaboration with Banking Circle to integrate EURI stablecoin into its payment platform. This agreement is an enormous advance ahead for Binance Pay, as it becomes the first digital asset trading platform to handle EURI, Banking Circle’s MiCAR-compliant e-money token. This connection looks to ease transactions with the EURI stablecoin, making digital currencies more useful in daily financial activity. Binance recently revealed a zero-fee promotion on certain trading pairs, allowing customers to trade with no costs until further notice.
Enhanced Digital Currency Utility
Starting August 28, 2024, Binance Pay users will be able to transact in EURI, extending the range of available digital currencies for everyday use. Jonathan Lim, Global Head of Binance Pay, pointed out the significance of this connection in streamlining and improving the user transaction experience. He emphasized the partnership’s significance in driving digital currencies into widespread acceptance and improving financial inclusion.
Daniel Lee, Head of Web 3 at Banking Circle, praised the collaboration for using their respective fintech strengths to improve the efficiency and security of digital payments. He described the integration of EURI into Binance Pay as a critical step toward greater acceptance of digital currencies.
On August 26, Banking Circle launched EURI, the first bank-backed MiCA-compliant stablecoin, which is intended to supplement existing payment systems while adhering to severe EU laws. As one of the first MiCA-regulated EURO stablecoins, EURI enhances holders’ trust, credibility, and confidence by adhering to consumer protection and transparency standards. EURI withdrawals will be available beginning August 29, 2024, though users are encouraged to check the withdrawal page for real-time status updates.
The merger highlights Binance Pay and Banking Circle’s commitment to expanding the use of digital currencies and enhancing their acceptance in global financial transactions. The EURI integration is expected to stimulate innovation and support the global adoption of digital assets.
