Binance Pay Partners with xMoney to Enhance Crypto Payments in Europe

 

-        Binance Pay has teamed up with xMoney to expand crypto payment options across Europe. 

-          The collaboration aims to provide faster, cheaper, and more user-friendly payment solutions for businesses and consumers. 

 

Binance Pay, the secure cryptocurrency payment platform by Binance, has announced a partnership with xMoney, a prominent web3 payment solution in Europe. This collaboration is designed to simplify crypto transactions, enabling direct payments from Binance accounts while connecting users to xMoney’s extensive merchant network. 

 

xMoney is renowned for its innovative payment ecosystem, leveraging cutting-edge technology and strict compliance measures. As a Mastercard principal member with strategic European licenses, xMoney is at the forefront of digital payment innovation. 

 

Through this partnership, Binance Pay users gain access to a wide range of merchants across industries such as luxury goods, gaming, travel, and e-commerce. By eliminating the need for traditional on-chain transactions, the collaboration ensures faster, more cost-effective, and seamless payment experiences for both buyers and sellers. 

 

Statements from Leadership 

Jonathan Lim, Global Head of Binance Pay, commented: 

“This partnership with xMoney marks a pivotal moment as cryptocurrency gains traction in mainstream commerce. The ability to use crypto for luxury purchases, travel, and even government services highlights its growing practicality in everyday transactions. Together with xMoney, we’re delivering secure, efficient, and accessible payment solutions that meet the evolving needs of users.” 

 

Greg Siourounis, CEO of xMoney Global

“Our collaboration with Binance Pay represents a significant step in bridging blockchain technology with traditional finance. By integrating Binance Pay, we’re expanding our ecosystem and offering users greater flexibility in how they transact. This partnership reflects our commitment to innovation and enhancing the payment experience for merchants and customers alike.” 

 

Expanding Merchant Networks 

The partnership has significantly expanded Binance Pay’s merchant network, which now includes over 32,000 businesses. This marks a 36% year-over-year increase, with the number of merchants growing from 8,900 in December 2023 to over 12,000 by December 2024. 

 

xMoney’s robust network spans more than 20,000 businesses across Europe, including sectors like real estate, gaming, and e-commerce. Notably, government entities such as Lugano and the Principality of Liechtenstein’s National Administration also accept crypto payments for public services, reflecting the growing adoption of digital currencies in both private and public sectors. 

 

By combining xMoney’s compliance-focused framework with Binance Pay’s user-friendly platform, the collaboration aims to drive broader cryptocurrency adoption while ensuring secure and efficient transactions. 

El Salvador Bolsters Bitcoin Reserves Amid Policy Shifts for IMF Compliance

 

•           El Salvador has added 12 BTC to its reserves, bringing its total holdings to 6,068 BTC. 
•           The country continues to acquire Bitcoin despite policy adjustments tied to a $1.4 billion IMF agreement. 

 

El Salvador remains steadfast in its commitment to Bitcoin, even as it modifies certain policies to align with its agreement with the International Monetary Fund (IMF). On February 4, the nation purchased 12 additional Bitcoins, increasing its total reserves to 6,068 BTC, valued at approximately $554 million. The government acquired 11 BTC at an average price of $101,816 per coin, followed by another purchase at $99,114. 

 

This move is part of a broader trend of consistent Bitcoin accumulation by El Salvador. Over the past week, the country added 21 BTC to its reserves, with a total of 60 BTC acquired in the last 30 days. These purchases underscore El Salvador’s ambition to establish the world’s first Strategic Bitcoin Reserve, showcasing its unwavering dedication to the cryptocurrency. 

 

Policy Adjustments and IMF Agreement 

In January, President Nayib Bukele secured a $1.4 billion financing deal with the IMF. As part of the agreement, El Salvador agreed to revise some of its Bitcoin-related policies. Notably, the government made Bitcoin adoption optional for private businesses and scaled back its involvement in the Chivo crypto wallet. 

 

On January 29, El Salvador’s Congress swiftly passed legislation to amend its Bitcoin laws, addressing the IMF’s concerns. Despite these changes, the country’s long-term Bitcoin strategy remains intact. Stacy Herbert, Director of the National Bitcoin Office, reaffirmed this commitment, emphasizing that the nation’s vision for Bitcoin remains unchanged. 

 

El Salvador’s pro-crypto stance has also attracted global attention. Tether, a leading stablecoin issuer, recently relocated its headquarters to the country, citing its favorable regulatory environment. Additionally, President Bukele has encouraged Rumble CEO Chris Pavlovski to consider moving operations to El Salvador. 

Nvidia Shares Tumble, Bitcoin Stumbles, and Trump Media Defies Gravity

A whirlwind of volatility swept through global markets this week, with tech giant Nvidia facing a brutal sell-off, Bitcoin retreating from recent highs, and Trump Media & Technology Group (TMTG) surging in a surprise rally. Here’s a breakdown of the forces driving these seismic shifts: 

 

1. Nvidia’s Stock Plunge: A Chip Giant Under Pressure 

Nvidia (NVDA) shares nosedived 12% in pre-market trading Thursday, erasing over $200 billion in market value, after the company flagged slowing demand for its AI-focused data center chips. Analysts attribute the drop to rising competition from rivals like AMD and Intel, coupled with concerns about overstocked inventories in key Asian markets. 

 

“The AI gold rush is cooling faster than expected,” said tech analyst Mara Lin of Bernstein Group. “Nvidia’s guidance suggests even industry leaders aren’t immune to cyclical downturns.” The sell-off dragged down the broader Nasdaq Composite, which fell 2.1% at the opening bell. 

 

2. Bitcoin Dips Below $60K as Risk Aversion Grows 

Bitcoin (BTC) slid to $58,400 early Thursday, its lowest level in six weeks, as investors fled riskier assets amid renewed inflation fears. The drop follows hotter-than-expected U.S. CPI data, which pushed Treasury yields higher and strengthened the dollar. 

 

Altcoins mirrored the decline, with Ethereum (ETH) and Solana (SOL) shedding 8% and 11%, respectively. “Crypto remains tightly correlated to macro sentiment,” noted CoinShares strategist Felix Hartmann. “Until the Fed signals a dovish pivot, digital assets will struggle to regain momentum.” 

 

3. Trump Media Soars 35% on Political Momentum 

In a stark contrast, shares of Trump Media & Technology Group (DJT) skyrocketed 35% in volatile trading, fueled by speculation about former President Donald Trump’s expanding influence ahead of the November election. The surge came despite the company reporting a $700 million net loss in Q1, with revenue totaling just $4.1 million. 

 

“This isn’t about fundamentals—it’s a political momentum play,” said Short Hills Capital’s Stephen Weiss. “Retail investors are betting on Trump’s ability to dominate headlines and drive user growth for Truth Social.” 

 

The Bigger Picture: A Market Divided 

The diverging trajectories of these assets underscore today’s fragmented market landscape. While tech stocks reel from valuation concerns and crypto faces macro headwinds, Trump Media’s rally highlights the growing influence of retail traders and political narratives on equity markets. 

 

As volatility persists, all eyes turn to next week’s Federal Reserve meeting for clues on whether policymakers will prioritize inflation control or economic stabilization—a decision that could make or break this week’s trends. 

 

 

Bitcoin Plunges to $100K Amid Trump’s Sweeping Tariffs Targeting Canada, Mexico, and China

President Donald Trump has enacted aggressive trade measures, fulfilling a long-standing campaign pledge to impose steep tariffs on key U.S. trading partners. Effective immediately this Tuesday, a 25% duty will apply to nearly all imports from Canada and Mexico, while Chinese goods face a 10% tariff. 

 

The move, outlined in a presidential Executive Order, cites the opioid crisis as a driving force. “The unchecked flow of illegal narcotics, including fentanyl, continues to devastate American lives, overwhelm public health systems, and destabilize communities,” Trump stated. 

 

With traditional financial markets shuttered for the weekend, cryptocurrency markets absorbed the immediate impact of investor anxiety. Bitcoin (BTC) tumbled 2%, teetering near the $100,000 support level after briefly surging to $106,000 just a day earlier. Altcoins suffered steeper losses: Ether (ETH), XRP, and Solana (SOL) plummeted 6%–8%, while the CoinDesk 20 Index—a benchmark for the broader crypto market—sank 4.8%. 

 

A senior White House official confirmed to The Wall Street Journal that no exemptions would be granted. The tariffs will persist until the administration deems the targeted nations have sufficiently curbed illicit drug trafficking into the U.S. 

 

Global pushback emerged swiftly. Canadian Prime Minister Justin Trudeau warned on social media platform X: “U.S. tariffs on Canadian exports harm both nations. Should these measures proceed, Canada will respond swiftly and decisively.” 

 

 

World Day of Social Justice 20 February

Every year on 20 February, the global community unites to observe the **World Day of Social Justice**, a day dedicated to promoting fairness, equality, and human dignity. As we approach 2024, this occasion takes on renewed urgency in a world grappling with systemic inequalities, climate crises, technological disruption, and lingering social fractures. This year’s theme, though yet to be officially announced by the United Nations, is expected to focus on Bridging Gaps, Building Alliances: Advancing Social Justice in the Digital Age. 

Why Social Justice Matters More Than Ever

Social justice is not just a buzzword; it’s the cornerstone of peaceful and prosperous societies. From gender discrimination and racial inequity to income disparities and lack of access to education, systemic barriers continue to marginalize millions. The COVID-19 pandemic exposed and exacerbated these divides, pushing an estimated 120 million people into extreme poverty and disrupting education for over 1.6 billion students globally.  

In 2024, emerging challenges like AI-driven job displacement, climate migration, and geopolitical conflicts demand innovative, collaborative solutions. The World Day of Social Justice serves as a reminder that progress requires collective action governments, businesses, and individuals must work together to dismantle inequitable systems.  

The 2024 Focus: Equity in a Digital Era  

While the official theme is pending, trends suggest a spotlight on technology’s dual role as both a catalyst for inclusion and a driver of inequality. Consider these key areas:  

1. Digital Divide:

 Over 3 billion people still lack internet access, limiting opportunities for education, healthcare, and economic participation.  

2. AI Ethics: 

Automation threatens jobs in low-skilled sectors, necessitating policies for reskilling and equitable tech governance.  

3. Online Harassment:

 Marginalized groups, especially women and LGBTQ+ individuals, face disproportionate cyberviolence, silencing their voices.  

The day will likely emphasize leveraging technology to empower vulnerable communities while advocating for regulations that prioritize human rights over profit.  

How to Participate: From Awareness to Action  

The World Day of Social Justice isn’t just about reflection—it’s a springboard for change. Here’s how you can contribute:  

Educate and Advocate: 

Host workshops or webinars on topics like fair wages, digital literacy, or climate justice. Share resources from organizations like the International Labour Organization (ILO) or Amnesty International.  

Amplify Marginalized Voices: 

Use social media to spotlight grassroots movements or underrepresented stories. Hashtags like **#SocialJusticeDay** and **#EqualityForAll** can amplify your message.  

Support Ethical Businesses:

 Patronize companies committed to fair labor practices, diversity, and sustainability.  

Engage Locally: 

Volunteer with NGOs, donate to food banks, or lobby policymakers for inclusive legislation.  

A Global Movement Starts with You  

Social justice isn’t a destination but a journey requiring persistent effort. This February 20, take a step—no matter how small—toward creating a fairer world. Whether it’s mentoring a student from an underserved community, advocating for workplace equity, or simply educating yourself on systemic biases, every action counts.  

As UN Secretary-General António Guterres once said, *“Inequality is a choice. Let’s choose to end it.”* In 2024, let’s bridge divides, harness technology for good, and reimagine a world where justice isn’t a privilege but a right for all.