Cryptocurrency exchange Binance announced on Wednesday the launch of its Binance Access, which is a business-to-business (B2B) solution for merchants, vendors, and wallets to integrate a “buy crypto” functionality on their platform. Binance reported that by integrating Binance Access, merchants and vendors are able to allow their users to natively buy crypto directly on their platform through Binance without leaving its interface.
“Binance Access is a standard API operated on Binance.com, which is made available to clients and partners as part of Binance’s Open Platform initiative. Binance Access will automatically allow users to create a Binance account after logging in to the merchant’s site. Users can buy crypto directly from the merchant’s interface using their available fiat balance.”
Binance CEO, Changpeng Zhao (CZ), also stated that Binance Access allows businesses to provide a one-stop exchange service to their customers and users without operating an exchange. Zhao then added:
“By providing other industry players and businesses with the tools and services to build the ecosystem, we hope to continue lowering the entry barrier to crypto and enabling more solutions to boost adoption as an infrastructure provider.”
Binance describes itself as a blockchain ecosystem comprised of Exchange, Labs, Launchpad, Info, Academy, Trust Wallet, and Blockchain Charity Foundation (BCF).
“The Binance exchange provides access to hundreds of digital currency pairs, while maintaining security, liquidity and high-speed. The platform offers some of the lowest trading costs in the industry at 0.1% or even less through the use of Binance Coin. The exchange strives to give its users access to some of the latest blockchain/DLT technologies with new cryptocurrencies being listed all the time.”