Binance Drives Global Crypto Payments as More Than 21M Merchants Join
Digital payment adoption is accelerating across global commerce as crypto-based systems expand their reach. Binance CEO Richard Teng posted on X this week that more than 21 million merchants now accept Binance payments, signaling increased real-world usage. The executive wrote:
Binance Pay enables transfers without gas fees, allowing users to send funds directly while selecting preferred assets or adjusting payment order during checkout. “More than 400 cryptocurrencies are supported for peer-to-peer transactions, including USDC, USDT, BNB, BTC, and ETH,” the crypto firm detailed on its website. The system also supports ADA, ATOM, AVA, BCH, BUSD, DASH, DOGE, DOT, EOS, ETC, HBAR, LINK, LTC, MANA, MATIC, NEO, OM, ONE, QTUM, TRX, TUSD, XLM, XMR, XRP, ZEC, and ZIL.
Merchant-facing functionality differs from peer transfers, with more than 100 cryptocurrencies available for retail payments across online and offline businesses. Users can spend digital assets at participating merchants while accessing a system that supports flexible payment configurations, including the ability to prioritize specific cryptocurrencies for individual transactions without altering default settings.
The March update reflects a sharp expansion from Binance’s November 2025 disclosure, when the company reported just over 20 million merchants on the network. The latest figure of more than 21 million indicates continued growth in merchant adoption within a few months, alongside broader increases in user participation and transaction activity across the platform. Moreover, stablecoin usage has emerged as a dominant force within the platform’s transaction activity, accounting for more than 98% of business-to-consumer payments in 2025.
Marketplace Integration and Borderless Utility Expand Crypto Payments
Additional capabilities of Binance Pay extend into a built-in marketplace that aggregates shopping, travel, gaming, and crypto-related services within one interface. The system also evaluates combined balances across wallets to complete transactions when a single asset is insufficient, streamlining payment execution. Refunds are issued in the cryptocurrency accepted by the merchant, maintaining consistency in settlement while reinforcing usability across diverse commercial scenarios.
Availability spans verified users globally, positioning the payment system as a borderless tool designed to integrate digital assets into everyday economic activity. The expansion in merchant adoption reflects broader efforts to embed cryptocurrency into routine financial interactions, from peer transfers to consumer purchases.
FAQ 🧭
- Why does merchant adoption of Binance Pay matter for investors?
It signals rising real-world utility that could drive long-term crypto demand and transaction volume growth. - How does Binance Pay reduce friction in transactions?
It enables gas-free transfers and flexible asset selection during payments. - What risks should investors consider with crypto payments?
Irreversible transactions and reliance on platform security remain key considerations. - What does multi-asset support mean for adoption?
It broadens usability by allowing payments across hundreds of cryptocurrencies globally.
Source: https://news.bitcoin.com/binance-pay-reaches-21m-merchants-signaling-mainstream-shift-in-crypto-payments/
