Binance has received a great boost since CoinPayments, a payment processor, integrates its native token, Binance Coin (BNB), into the CoinPayments platform.
CoinPayments announced the approval of BNB on November 16 on its blog and on Twitter.
Changpeng Zhao, CEO of Binance, said that the spread of BNB to 2.3 million new users is a big promotion for the community
CoinPayments offers over one thousand different cryptocurrency payment options, creating real use cases for many altcoins. Using many plug-in interfaces, APIs and Point of Sale, the processor raised the 2.3 million user base in 182 countries.
CoinPayments claims to be "extremely proud" of working with Binance. Being one of the world's largest volume exchanges with consistent community-focused decisions, Binance can bring many new users to CoinPayments.
CoinPayments explains the reasons for the integration of BNB also on its platform. His reasons include:
Large user base on Binance to pay for trading fees
Potential increase in use by existing users
BNB must be used to feed the imminent decentralized exchange Binance is working on
Support for adoption
CoinPayments was the first payment processor to support altcoin. They have a portfolio of multiple currencies and unique payment processing solutions. CoinPayment also provides cold storage depots, instant confirmations, fiat bank settlements and free automatic conversion of altcoin on its platform.
Binance Coin is the 14th largest cryptocurrency by market capitalization with $ 900 million at the time of writing this, according to CoinMarketCap.com. The total offer is 200 million, but Binance plans to use 20% of its quarterly profit to buy back and burn coins. This should create value and continued use for BNB in the future.