1 August 2026
Binance Secretly Launched its Retail App (Binance Pay)
Binance- the world's leading cryptocurrency exchange proudly announced Binance Pay (beta version) at its live session, Binance Blockchain Week.
Binance Pay is a contactless, limitless and secure cryptocurrency payment technology developed exclusively by Binance. As per their website, it allows you to pay and receive money in the crypto from your friends and family globally.
Binance CEO Changpeng "CZ" Zhao highlighted in his virtual session that "We believe that payments are one of the most obvious uses of the crypto." He also shared one of the merchants' biggest problems; despite having currency acceptance systems, most of their customers do not use it. Taking cash and credits is just more comfortable because people use them regularly.
Binance system allows customers to pay in cryptocurrency, while the merchant receives fiat-backed stablecoins that can be easily converted into fiat. Presently, the beta version supports only one type of fiat, i.e. euro. CZ further said, "This way their business doesn't have to fluctuate with crypto."
The beta version of Binance Pay has its system of accounts currently, so Binancians have to sign up for Binance Pay from their Binance wallets. To access Binance pay wallet, the user will need to set a nickname, pin and a strong password.
Binance Pay also includes its previously introduced Binance Card – a debit card that converts users' crypts into fiat after every purchase. Similar to Binance card, Binance Pay supports currencies like Binance Coin (BNB), Binance USD (BUSD), Bitcoin (BTC), Swipe Token (SXP), Ethereum (ETH) and Euro (EUR).
Binance Pay is also integrated with Binance Visa cards natively. It allows Binancians to transfer funds from their wallet using a QR-scanner in the app. In the end, CZ also stated that he has bigger plans for Binance pay and urged its audience to try the product if found.
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