Italy-based crypto exchange Coinbar has entered a multi-year agreement with Binance Pay to enable the latter’s users to make crypto payments directly in stores. Coinbar has signed a multi-year collaboration with Binance Pay, enabling over 168 million Binance users to make direct cryptocurrency payments at affiliated stores across Europe through Coinbar's specialised digital payment services.

This international partnership marks a significant leap forward for Coinbar, demonstrating that Italy is among the leaders in the digital payments revolution. The cryptocurrency landscape The cryptocurrency market's total value hit USD 1.54 trillion in 2023, and the press release suggests that further expansion is anticipated in 2024. This surge is credited to several factors, such as increased interest from institutional investors, governments, and businesses, along with the increasing acceptance of cryptocurrencies as a means of payment.

Binance, a cryptocurrency exchange platform founded in 2017, had already established itself as a large digital asset player in terms of trading volume by May 2021. At the moment of this partnership, the platform boasts over 168 million registered users in 45 countries and a daily trading volume exceeding USD 50 billion. Entering 2024, this collaboration marks a noteworthy milestone for Coinbar, positioning the company for success in the digital payments sector.

The Italian exchange’s officials emphasised that this venture aligns with their vision and underscores Italy's position in the digital payments landscape. The two companies provide users the ability to make direct cryptocurrency payments from their wallets, solidifying these digital assets as commonplace in everyday transactions. Also commenting on this partnership, representatives from Binance Pay said that their goal is to provide users with convenient and innovative ways to use cryptocurrencies in their daily lives.

This collaboration strengthens Binance Pay's mission to provide businesses and consumers with a contactless, borderless, and secure cryptocurrency transfer experience. Italy's role in promoting digital innovation aligns perfectly with their vision at Binance Pay. Together with Coinbar, they are paving the way for widespread adoption of digital currencies and further enriching the landscape of local digital transfers.

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