eCommerce platform Uquid.com, which has more than 2 million products available for sale, has integrated with Binance Pay to allow users to buy more than 40 digital tokens without fees, according to a PVP Live report Monday (Jan. 31).
Uquid’s eCommerce and decentralized finance (DeFi) platform accepts about 100 tokens and the firm is considering expanding the reach of its DeFi shopping network beyond the Ethereum blockchain. Uquid.com also offers what it calls “Buy Now and Pay later (BNPL) by Crypto” to customers, allowing them to spread out their payments into installations with no extra fees.
Uquid.com has embraced the metaverse through a Web3 smart online shopping experience, including staking points, shopping mining, merchant token airdrops, earning rewards and more.
The eCommerce platform also plans to increase its physical products from 2 million to more than 5 million this year, the report says, and is looking to expand its payment solutions to DeFi networks including Binance Smart Chain and Cardano.
Related: Binance Looks For Larger Footprint In Russia
Meanwhile, Binance wants to expand its cryptocurrency exchange in Russia, despite a proposed nationwide ban on digital tokens by its central bank.
Binance Eastern European Director Gleb Kostarev said the company hopes Russia will take a progressive approach to regulating cryptocurrencies, a stance that could influence its neighbors’ actions when it comes to digital currency.
So read: Binance Ending Halt on SEPA Payments
Meanwhile, Binance has resumed its acceptance of deposits from the Single Euro Payments Area (SEPA), ending a months-long freeze. The reinstatement started with customers in Belgium and Bulgaria before it moves on to other countries in the next several weeks.
SEPA lets users make cashless euro payments to payees in the European Union along with multiple nations outside the EU. Binance announced in July it was suspending euro bank deposits from the SEPA network, due to “events beyond our control.”
A Binance spokesperson said the company is working with London-based payments platform Paysafe to make sure Binance can continue offering SEPA payments “for the foreseeable future.” Paysafe said the partnership will include the company’s digital wallets technology.
NEW PYMNTS DATA: 70% OF BNPL USERS WOULD USE BANK INSTALLMENT OPTIONS, IF AVAILABLE
About: Seventy percent of BNPL users say they’d rather use installation plans offered by their banks — if only they were made available. PYMNTS’ Banking On Buy Now, Pay Later: Installment Payments And FIs’ Untapped Opportunitysurveyed more than 2,200 US consumers to better understand how consumers view banks as BNPL providers in a sea of BNPL pure-plays.