$SHIB and $ADA Holders Set to Benefit From Binance Pay and CoinGate Partnership

$SHIB and $ADA Holders Set to Benefit From Binance Pay and CoinGate Partnership

April 20, 2023

Binance, the world’s leading cryptocurrency exchange by trading volume, has announced a strategic partnership with Lithuanian fintech firm CoinGate in a collaboration meant to allow Binance Pay users to conduct transactions at CoinGate-affiliate merchants using Shiba Inu ($SHIB) and other Binance Pay supported digital assets.

Binance Pay is a contactless and borderless payment technology that currently supports over 70 cryptocurrencies, including Bitcoin ($BTC), Binance Coin ($BNB), Cardano ($ADA), Ethereum ($ETH), Dogecoin ($DOGE), and Polygon ($MATIC). The platform aims to drive mainstream adoption of crypto payments by allowing users to purchase goods and services from participating merchants using digital assets.

Several businesses have started accepting cryptocurrency payments through Binance Pay over the years, allowing users to use supported digital assets to pay for goods and services. Earlier this year, Binance users in France started being able to pay with crypto at retail stores thanks to a new partnership between the world’s largest crypto exchange and Ingenico, a leading provider of in-store payment terminals, for example.

CoinGate, established in 2014, has been instrumental in promoting the adoption of Shiba Inu, Cardano, and others as payment methods. The company has forged partnerships with prominent merchants, including small and medium enterprises, to enable over 200 online stores to accept crypto payments through its platform.

Also read: How to Find Your Binance Wallet Address

On February 28, Binance said that thanks to a partnership between Binance and crypto payment gateway CityPay.io, which “creates high-tech systems for businesses enabling them to receive customer payments in cryptocurrency,” Binance users in former Soviet republic Georgia can now pay with crypto at Wendy’s restaurants and at “more than 600 other vendors, including major hotels, restaurants, and supermarkets.”

Notably, earlier this month Binance announced that it will be moving the meme coin Shiba Inu out of its Innovation Zone, a move that could signal bullish sentiment.

The Innovation Zone was created to provide a safer space for users to access newer tokens, but it also restricted access for less experienced users who could not correctly answer the two questions required for entry. By moving $SHIB out of the Innovation Zone, Binance is making the meme coin more accessible to a wider range of users on its platform. 

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