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binance pay
is a digital payment system created by Binance, one of the largest digital currency trading platforms in the world. The service was officially launched in February 2021 as part of the company's efforts to expand its services to include digital payments. Here is an explanation of how Binance Pay was developed:
1. The motivation behind its creation:
Innovation in financial technology: Binance's main goal was to provide a smooth and secure way to make payments using digital currencies, facilitating the practical use of these currencies in everyday life.
Solving traditional payment problems: The company wanted to provide a faster and cheaper alternative to cross-border payments faced by traditional systems.
2. Technical infrastructure:
Technologies used: Binance Pay relies on the same robust infrastructure that supports the Binance trading platform. It uses blockchain technologies to secure payments and ensure transparency.
Digital wallet integration: The service is integrated with the Binance wallet, allowing users to make payments directly from their Binance accounts.
3. Basic functions:
Send and receive cryptocurrencies: Users can send and receive more than 200 cryptocurrencies without additional fees.
Strict security.
