Binance Pay's Role in the Evolution of Cross-Border Payments

Binance Blog published a new article, highlighting Binance Pay's pivotal role in transforming cross-border payments. The article discusses how Binance Pay is enabling instant, low-cost, and borderless transactions, with over 20 million merchants now onboard worldwide. This represents a significant increase from just 12,000 merchants at the beginning of the year, marking a more than 1,700 times surge within 10 months. This expansion is a clear indication that cryptocurrency payments are becoming a part of everyday life, moving beyond niche markets. Stablecoins are at the forefront of this transformation, addressing long-standing issues in traditional payments such as delays, high fees, and limited access. Transactions with stablecoins occur instantly and at low costs, making cross-border transfers more affordable. Their borderless nature promotes financial inclusion, connecting people and businesses in regions underserved by banks. Binance Pay's transaction data reflects this trend, with over 98% of business-to-consumer payments in 2025 settled in stablecoins like USDT, USDC, and others. Since its launch in 2021, Binance Pay has processed transactions exceeding USD $250 billion, and its user base has grown to over 45 million globally. The momentum behind stablecoin payments is accelerating across the industry. An October 2025 report by Artemis indicates that stablecoin payments' monthly volumes surpassed USD $10 billion as of August 2025, an 82% increase since the start of the year. A September 2025 EY report forecasts that stablecoins could account for 5% to 10% of global payments by 2030, although this might be a conservative estimate given the rapid technological advancements and growing demand for efficient, transparent money transfers. Traditional financial institutions are also responding to this shift, with SWIFT launching a blockchain-based shared ledger to improve speed, reduce costs, and enhance transparency in cross-border transfers. Binance Pay is at the forefront of this payment revolution, with a diverse merchant network spanning industries such as gaming, retail, luxury, banking, and more. Notable partnerships include integrations with Brazil's Pix payment system, Argentina's QR code payment feature, and Bhutan's national tourism platform. These collaborations demonstrate Binance Pay's commitment to making crypto payments practical and widely accepted across various markets. As stablecoin payments continue to reshape commerce and finance, Binance Pay remains dedicated to leading this journey, creating new economic opportunities and empowering millions to transact on their own terms.