• Binance Pay’s merchant base has surged to more than 20 million globally, spanning Latin America, Africa, Europe, the Middle East, and Asia.

• The platform’s user base has grown by over 45 million since March 2021, facilitating seamless cross-border settlements.

• Transaction volumes have topped $250 billion, with 98% of 2025 B2C payments settled in stablecoins like USDT and USDC for efficiency.

Discover how Binance Pay’s expansion to 20 million merchants drives stablecoin adoption in global payments. Explore merchant integrations and transaction trends shaping crypto’s future—stay ahead with key insights today.

What is Binance Pay and How Has It Grown?

Binance Pay is the global payments arm of the world’s largest crypto exchange by volume, enabling merchants and users to conduct seamless cryptocurrency transactions. Launched in March 2021, it has rapidly expanded to support over 20 million merchants—a staggering increase from its initial 12,000 partners—across continents like Latin America, Africa, Europe, the Middle East, and Asia. This growth underscores its pivotal role in integrating digital assets into everyday commerce, with a user base now exceeding 45 million worldwide.

How Do Stablecoins Dominate Binance Pay Transactions?

Stablecoins have become the backbone of Binance Pay activity, accounting for over 98% of business-to-consumer payments in 2025. The platform supports popular dollar-pegged assets such as USDT, USDC, EURI, XUSD, and FDUSD, which offer fast and predictable settlements ideal for merchants in markets with unstable local currencies or inefficient banking systems. According to digital asset analytics firm Artemis, monthly stablecoin payment volumes reached $10 billion in August, marking an 82% rise from the start of 2025. A September report from EY projects that stablecoins could represent 5% to 10% of global payments by 2030, driven by increasing institutional and central bank adoption.

This preference for stablecoins stems from their stability and speed, reducing risks in volatile economies. Merchants benefit from lower transaction fees and quicker processing times compared to traditional fiat rails. As adoption accelerates, experts anticipate even faster growth, though regulatory hurdles may temper projections. EY’s analysis notes that while conservative, these estimates could underestimate rates if more financial institutions embrace digital settlements.

Frequently Asked Questions

What Stablecoins Are Supported on Binance Pay for Merchant Payments?

Binance Pay primarily supports dollar-pegged stablecoins like USDT, USDC, EURI, XUSD, and FDUSD for efficient settlements. These assets are favored for their stability in regions with currency fluctuations, enabling over 98% of 2025 B2C transactions to process rapidly without volatility risks, as confirmed by Binance’s disclosures.

How Has Binance Pay Integrated with Local Economies in Emerging Markets?

Binance Pay has partnered with national infrastructures to embed crypto payments locally, such as integrating with Argentina’s QR code system for millions of purchase points and Bhutan’s tourism authority for visitor services like flights and lodging. This allows seamless digital asset use, boosting accessibility in underserved areas with weak banking, according to Binance reports.

What Major Merchants Have Recently Joined Binance Pay?

Prominent additions include global brands like JW Marriott, KFC, and SPAR, alongside thousands of small businesses and online retailers across continents. These integrations expand crypto acceptance, supporting diverse sectors from hospitality to retail, as detailed in Binance’s recent disclosures.

Key Takeaways

• Explosive Merchant Growth: Binance Pay’s network has ballooned to 20 million merchants, a 1,700 times increase since launch, demonstrating crypto’s mainstream payment potential.
• Stablecoin Dominance: With $250 billion in transactions and 98% using stablecoins, the platform prioritizes assets like USDT for secure, efficient global settlements.
• Strategic Expansions: Partnerships with entities like Argentina’s QR system and Bhutan’s tourism highlight efforts to integrate crypto into local economies, fostering broader adoption.

Conclusion

Binance Pay continues to redefine global payments through its vast merchant network and stablecoin focus, processing over $250 billion since inception and enabling cross-border efficiency in diverse regions. As stablecoin usage surges—projected at 5-10% of worldwide transactions by 2030 per EY—challenges like regulatory scrutiny persist, including past compliance issues tied to Binance’s leadership. Nonetheless, ongoing integrations signal a promising trajectory for crypto payments, empowering businesses and users alike to navigate economic uncertainties with digital innovation.