Binance Pay, a contactless cryptocurrency payment platform that lets users send, receive, and spend crypto, has announced that USDC now is the default currency for new Binance Pay users. Payment can be sent instantly and with zero gas fees, offering a more practical solution for a lot of people worldwide.
Transferring USDC on Ethereum mainnet requires paying gas fees in ETH, which can be high and varies with network congestion. However on Layer 2 networks like Base or other blockchains like Solana, Polygon, and other blockchain have low gas fees but with this integration, there will be zero gas-fees.
Apart from zero gas fees, with this partnership, global access is achieved and, there is an enhanced security and trust within the community for USDC,
This collaboration is huge because it is uniting Circle, the issuer of USDC stablecoin and with Binance, the world’s largest crypto platform, is making USDC easily available for trading, saving and payments. This integration is signalling a major shift towards mainstream compliant digital finance.
With Circle’s technology and liquidity, there will be increased opportunities for businesses to come in and leverage stablecoins for real-world financial applications. All of this in line with regulatory compliance and innovation in the DeFi space.
Global Reach and Real-World Impact
Binance Pay, is serving around 250 million users as of early 2025 and the platform is said to be carrying $26 billion in direct, instant crypto payments since 2022. Since the fee on this platform is zero, it has saved about $1.75 billion in fees that would have otherwise been transferred to financial intermediaries.
Generally, traditional payment services usually charge 6.65% on average, with small transfers incurring fees of 15-20%. On the contrary, Binance Pay allows instant, fee-free transfers. This initiative has helped many people around the world.
People have even used Binance Pay to send money in emergencies, like medical bills or natural disasters, when speed is the most important.
Spending USDC Made Easy with Binance Pay
With this partnership between Circle and Binance Pay, users can spend USDC at more than 32,000 merchants worldwide, which also includes travel and e-commerce, luxury retail and gift cards, and even groceries. Business can tap into Binance Pay’s vast network to reach million of global customers, this will expand their stablecoin’s market without having to pay the gas fees.
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