Binance Coin (BNB), the digital asset of the Binance exchange, is now accepted at around 200 new stores and retail shops in Latin America. This comes after being integrated by Cryptobuyer, a recognized payment gateway that operates in the region. This would allow individuals to spend their BNB coins in different shops in the region. The information was released on August 5 by Cryptobuyer in a blog post.
Binance Coin Accepted At Over 200 Stores
With this integration, Cryptobuyer would allow individuals in different countries, including Venezuela, to purchase goods and services using Binance Coin. One of the largest retail chains in Venezuela called Traki is accepting digital currencies due to its integration with Cryptobuyer.
It is worth mentioning that clients can not only pay with BNB but also with other digital assets such as Bitcoin (BTC), Litecoin (LTC) and Dash. These are the most popular digital assets in Venezuela.
Each transaction generates a QE Code in which shoppers can use a crypto wallet on their mobile phone to make the payment. Users can select the cryptocurrency they want to make the payment. In just 48 hours, the funds will be credited in the merchant’s bank account in US dollars.
The team at Cryptobuyer commented about it:
“Our solution is a real and functional alternative to the problems of hyperinflation, shortage of cash and an advanced payment tool, thus becoming a real use case in one of the places where it is most needed in the world.”
Cryptobuyer is also working in order to submit a proposal to list its native token called XPT on the Binance DEX, the decentralized exchange created by Binance. Moreover, they are also trying to apply for the Binance Labs Incubation Program Season 3.
There are 46 Traki superstores in Venezuela that are already using this solution provided by Cryptobuyer. Moreover, the firm is also offering services to Panama and Costa Rica for hotel chains and tourism companies that have a large demand for crypto payments from customers from all over the world.
The firm is also trying to expand its operations and reach other markets, including Mexico, Argentina and Spain. There are many customers in these countries that are requesting the services provided by Cryptobuyer.
Binance Coin is one of the most popular cryptocurrencies in the market. At the time of writing this article, BNB is the sixth-largest cryptocurrency with a market capitalization of $4.28 billion and a price per coin of $27.5.
Try Out Binance Today
For over two years, UseTheBitcoin has done the research, covered the news, and helped readers find the best blockchain projects. The one thing we keep coming back to is Binance.
Binance has set itself apart as the best trading platform for beginners and experienced traders, and gives you hundreds of coins to invest in. Start trading today on Binance!