Crixto and Binance Pay enable payments with USDT to bolivars in businesses in Venezuela
It is now possible to pay in bolivars with Binance Pay in businesses across the country through the platform of the company Crixto.
The Venezuelan fintech Crixto announced that, since August 2nd, Binance Pay allows users in Venezuela to pay with the stablecoin USDT at physical point of sale locations. Through Crixto's platform, businesses instantly receive the amount in bolivars, eliminating intermediaries and streamlining daily transactions.
According to Crixto's announcement on its Instagram account, this integration "positions Venezuela as the only country among the more than 140 countries where Binance operates that has a direct cryptocurrency payment system," with settlement in local currency.
As explained by William Roldán, marketing manager of Crixto, to make payments, users scan a QR code, confirm the transfer in USDT from the Binance app, and businesses receive bolivars in real-time, without intermediaries.