The collaboration between the two companies aims to enhance STICPAY users' access to a wide range of leading cryptocurrencies. In essence, STICPAY is now able to offer its users the option to deposit funds directly through Binance Pay, Binance's cryptocurrency payment technology. This integration allows STICPAY users to engage in trading, sending, and transacting in over 70 prominent cryptocurrencies, offering cost-efficiency and faster transaction processing.
This partnership takes place amid the cryptocurrency wallet market's exponential growth. According to the official press release, in 2022, the global crypto wallets market generated revenue worth USD 8.24 billion, and it is projected to reach approximately USD 46.72 billion by 2030, with a compound annual growth rate of about 24.23%.
Representatives from STICPAY expressed their enthusiasm regarding the collaboration and reiterated STICPAY's mission to make digital payments cheaper, faster, and more convenient. By integrating with Binance Pay, the company aims to enable its clients to handle cryptocurrencies in a more efficient way.
Representatives from Binance Pay also welcomed the integration and described it as another step in making crypto accessible for all.
STICPAY is a global e-wallet and payment gateway provider, offering a wide range of local and international payment methods to corporate clients across more than 200 countries. STICPAY facilitates the transfer of numerous fiat and cryptocurrencies through bank wire, credit cards, local payment methods, and crypto options. It enables international e-commerce transactions for online merchants and provides a fast, secure, and cost-effective transfer service for individuals, including those dealing with non-major currencies. The company also offers cashback services to trusted partners in the forex and online gaming sectors.
Binance Pay is a contactless, borderless, and secure cryptocurrency payment technology developed by Binance, allowing users and merchants to send and receive crypto payments globally. Since its launch in 2021, Binance Pay has gained millions of active users and supports more than 70 cryptocurrencies at the time of writing.
Binance has expanded this payment technology to various parts of the world in 2023, including South America. In August 2023, the crypto exchange launched the Binance Pay crypto payment option in Brazil to help local merchants attract new customers. This new payment solution offers local businesses an alternative method for accepting payments, potentially attracting new customers, expediting transaction processing, and lowering operational costs.
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