Exchange News- The alliance facilitates the use of cryptocurrency for payments in France.
- France is especially important to Binance in light of the MiCA legislation.
Binance, a cryptocurrency exchange, and Ingenico, a payments company located in France, have announced strategic cooperation to facilitate cryptocurrency payments in the country of France. On February 22nd, Binance announced that it has teamed with Ingenico, a global payment solutions organization, to make using Binance Pay a breeze. The company sees the alliance as a significant step towards the widespread use of cryptocurrencies throughout the world.
The alliance facilitates the use of cryptocurrency for payments in France. This allows businesses that have installed Ingenico’s AXIUM POS terminals to accept crypto payments from customers. Being the company’s headquarters and a major European hub. France is especially important to Binance in light of the MiCA legislation.
Extensive Network of Payment Terminals
Furthermore, merchants can accept payments in over 50 cryptocurrencies with ease using Ingenico payment terminals, which will make it easier for customers to pay with cryptocurrencies in brick-and-mortar locations. It has the most extensive network of payment terminals in existence.
In addition, two French businesses, Le Carlie and Miss Opéra, will be the first of their kind to accept cryptocurrency payments. Binance Pay’s connection with Ingenico’s payment terminals is being rolled out throughout Europe. Nevertheless, US authorities are considering taking regulatory action against Binance.
Moreover, Patrick Hillmann, CSO at Binance, is concerned that excessive regulation of cryptocurrencies could stifle innovation and cause widespread price swings. BUSD issuer Paxos felt the brunt of the effect after being ordered by the U.S. SEC and the New York Department of Financial Services to cease minting BUSD stablecoins.
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Source: https://thenewscrypto.com/binance-collaborates-with-french-payments-firm-ingenico/