Wallets/binance-pay
Binance Pay
0 standards supported
Overview
Binance Pay is Binance's crypto-payment service for merchants + consumers, operated by Binance Holdings Ltd [1, 2]. Explosive 2025 merchant growth: from 12,000 merchants at start of 2025 to 20+ million worldwide by November 2025 — roughly 1,700-fold surge. By March 2026, 21+ million merchants. User base: 45+ million globally in 2025. Since 2021 launch: $250+ billion cumulative payment volume.
Stablecoin dominance: 98%+ of business-to-consumer Binance Pay payments use stablecoins (USDT, USDC, EURI, XUSD, FDUSD) — fast + predictable settlement. Geographic expansion: integrations with major brands + national payment systems across Latin America, Europe, Africa, Asia. Brazil: Binance Pay connects to pix instant-payments network. Argentina: thousands of QR-merchant integrations.
History
February 2021 — Binance Pay launches as Binance's crypto-payment service.
2021-2024 — Slow merchant growth with primarily P2P + Binance-ecosystem use.
2025 — Explosive merchant growth (1,700x surge) from 12K to 20M+ merchants amid stablecoin-payment + cross-border adoption surge.
Late 2025 — Pix integration (Brazil) + Argentina QR-merchant integration + multi-region national-payment-system integrations [3].
March 2026 — 21+ million merchants [4]: Continued growth.
Ownership & operator
Operating entity: Binance Holdings Ltd (Seychelles-incorporated; multiple country-specific subsidiaries).
Founder + Former CEO: Changpeng Zhao "CZ" (Chinese-Canadian; stepped down November 2023 after US DOJ settlement).
Current CEO: Richard Teng (since November 2023).
Regulator distinction:
- Binance Holdings Ltd Seychelles-incorporated; limited US access following 2023 DOJ settlement.
- Per-country licenses: Bahrain CBB, France AMF, UAE VARA + ADGM, El Salvador, Japan FSA + others.
- Stablecoin dominance: 98%+ B2C payments via USDT, USDC, EURI, XUSD, FDUSD.
Technical integration
| Layer | Description |
|---|---|
| Channels | Binance mobile app (iOS + Android) + Binance.com web + QR payment + merchant API |
| Identifiers | Email + Binance Pay ID + QR code |
| Supported assets | 98%+ stablecoins (USDT, USDC, EURI, XUSD, FDUSD) + BTC + ETH + 60+ crypto |
| National-payment-system integrations | pix (Brazil) + Argentina QR + Latin America + Europe + Africa + Asia |
| Cross-border | Native — single Binance Pay account works globally |
| Settlement | Real-time crypto settlement; merchants can hold or auto-convert to local currency |
Users & growth
- Users: 45+ million globally
- Merchants: 20+ million (November 2025); 21+ million (March 2026)
- Cumulative payment volume since 2021 launch: $250+ billion
- B2C payments stablecoin share: 98%+
Merchant growth: 1,700-fold surge from 12K start-2025 to 20M+ end-2025.
Use cases
P2P crypto transfers (free between Binance users); merchant payments (20M+ merchants); cross-border remittance; stablecoin-denominated B2B payments; national-payment-system integrations (Pix Brazil + Argentina QR); merchant auto-conversion to local currency.
Implementations & partners
Operator: Binance Holdings Ltd.
National-payment-system integrations: Pix (Brazil), Argentina QR-merchants, multiple LATAM + European + African + Asian markets.
Stablecoin partners: Tether (USDT), Circle (USDC), Eura (EURI), XUSD, First Digital USD (FDUSD) + others.
Major competitors:
- [[crypto-com]] (Crypto.com Pay).
- OKX Pay + Bybit Pay + KuCoin Pay.
- Coinbase Commerce (US merchant crypto-payment).
- Stripe Crypto (Stripe's crypto-payment integrations).
- Stablecoin-native payment networks (BVNK, Mural, etc.).
Major sister product: Binance Exchange (custodial trading) + Binance Wallet (self-custody; distinct from Binance Pay).
Fun facts
- February 2021 launch as Binance's crypto-payment service.
- 2025 explosive growth: 1,700-fold merchant surge (12K → 20M+).
- March 2026: 21+ million merchants — among largest crypto-payment merchant networks globally.
- 45+ million users + $250B+ cumulative payment volume since 2021.
- 98%+ stablecoin dominance for B2C payments — fast, predictable settlement.
- Brazil Pix integration + Argentina QR-merchants — major LATAM national-payment-system bridges.
- Changpeng Zhao "CZ" stepped down November 2023 after US DOJ $4.3B settlement.
- Richard Teng CEO since November 2023.
- Limited US access following 2023 DOJ settlement.
Comparison
| Feature | Binance Pay | [[crypto-com]] Pay | Coinbase Commerce | OKX Pay | Stripe Crypto |
|---|---|---|---|---|---|
| Operator | Binance Holdings Ltd (Seychelles) | Crypto.com (Foris DAX) | Coinbase Global (NASDAQ: COIN) | OKX | Stripe |
| Type | Crypto-payment merchant network + P2P + Pix/QR national-system integration | Crypto-card + Pay | US merchant crypto-payment processor | Crypto-payment | Stripe crypto-payment add-on |
| Merchants | 21M+ (Mar 2026) | Major | Major | Major | Stripe merchant base |
| Users | 45M+ | 100M+ | Coinbase user base | OKX user base | Stripe user base |
| Stablecoin dominance | 98%+ B2C | High | Various | High | High |
| National-system integration | Pix BR + Argentina QR + many | Limited | Limited | Limited | Various |
| Regulatory | Limited US; per-country | Per-country | Full US + per-country | Per-country | Full US + per-country |
Status
Active, leading crypto-payment merchant network [1, 2, 4]:
- Binance Holdings Ltd since February 2021 launch.
- 21+ million merchants (March 2026) + 45+ million users.
- $250+ billion cumulative payment volume since 2021.
- 98%+ B2C stablecoin dominance.
- National-payment-system integrations including Pix (Brazil), Argentina QR, multi-region.
- Richard Teng CEO since November 2023 (CZ stepped down post-DOJ settlement).
Sources
- 1 Binance Pay merchants surge — Cryptonomist
- 2 Binance Pay 21M+ merchants — Bitcoin.com
- 3 Binance Pay 1700x growth — Cryptopolitan
- 4 Binance Pay stablecoin payments — FinanceFeeds
Source
Biography extracted from binance-pay.md. See matrix.md for standards-support matrix if present.