Fresh integration to facilitate BUSD and BNB transactions through the PIP extension
Seoul, South Korea --News Direct-- PIP
Web3 payment solution provider PIP has launched its services in the Binance ecosystem, supporting Binance Coin (BNB) and Binance USD (BUSD) stablecoin-based transactions for Binance Smart Chain (BSC) users. The platform’s PIP Extension product will provide the advanced service that bridges the Web3 ecosystem between a range of connected Web2 social media platforms.
This fresh combination of the PIP browser-based extension with the Binance ecosystem will lay out PIP’s value proposition for Binance’s sizable existing audience of cryptocurrency users. With extension, it will help empower the vision of microeconomy bybreaking down economic barriers between billions of social media users through its inclusive financial services.
PIP allows users to create a unique PIP tag and then connect a supported social media account to streamline payments between PIP users. By sharing tags, users don’t need to remember long wallet addresses, simplifying the entire end-to-end process of sending payments, both micro and macro, affordably.
Through its consumer-focused interface that supports multiple popular cryptocurrencies and stablecoins, social media users can seamlessly send payments and tips, whether transacting for goods or services or simply rewarding their favorite content creators. PIP delivers an inclusive monetization channel for anyone who provides services and products. They can integrate the blockchain infrastructure to their businesses by sharing their PIP tags on their social media profiles or embed PIP buttons on websites, which would be a more cost-effective and simple way to exchange values between them compared to legacy services.
Already, PIP interfaces with multiple popular Web2 social media platforms, including Twitter, Discord, Twitch, and Reddit, allowing users to sign up with their social media accounts to power payments, tips, donations, and more between social media users. Those users without a PIP account can even participate, accepting transactions through an escrow-based payment system.
Eventually, the support for BNB and BUSD tokens will be extended to PIP.ME and PIP Button. PIP.ME is a customizable Web3 profile link that can be shared to accept payments, display or market user-owned NFTs, and also share content.
According to PIP’s CEO and Co-Founder, Jeff Baek: "We believe that PIP will help $17 billion BUSD to expand beyond a trading pair to become a means of global payment, flouring micropayment economy."
PIP Button is another service designed to aid the monetization of online activity by helping users generate a payment button for accepting cryptocurrencies without any coding knowledge. Users can create customizable buttons and determine which cryptocurrencies they prefer to accept before embedding the button on a website via HTML code or React. This brings the product suite full circle by connecting Web2-based websites with the PIP payment ecosystem.
Since closing a seed-round investment from Alameda Research, Coinbase Ventures, CMS Holdings, Galaxy Digital Hong Kong, and Genesis Block Ventures, PIP has initiated further plans to add other consumer-focused Web3 services to its lineup. Moreover, PIP intends to add support for other blockchains, tokens, and social media platforms as part of its roadmap over the forthcoming quarters.
PIP endeavors to reduce the complexity and cost of crypto transactions by introducing simple consumer-geared interfaces, thereby improving financial inclusivity via Web3 technologies. PIP, through its suite of products, including PIP Extension, PIP ME, and PIP Button, helps social media users easily transact and monetize content creation. To date, the platform has on-boarded over 60,000 users and processed more than $15 million worth of crypto payments.
View source version on newsdirect.com: https://newsdirect.com/news/pip-unveils-binance-ecosystem-integration-to-extend-web3-payment-coverage-to-web2-services-365501767