Binance enables users to pay for taxis with cryptocurrency

Binance has signed an agreement with the API provider for Splyt’s super-apps. The partnership will allow exchange users to pay for a range of services in cryptocurrencies.

When Splyt does something, we do it with a Bang! 💥

Time to live in the future like @cz_binance, and get to your desert safari in a taxi, all paid with #crypto. 💰

Can you really still use FIAT after hearing about this historic deal?https://t.co/UopkaUmeDD #SuperappEnabler pic.twitter.com/dJbcsw0z35

— Splyt (@splytech) June 14, 2022

According to the announcement, Binance will become the first cryptocurrency exchange to offer ride-hailing services on its platform. Users will be able to order taxis, pay for bike rentals, and a number of other services through Binance Pay, without loading third-party mobile apps.

The Splyt team will assist in serving customers and partners by fully integrating the services, as well as providing built-in support in local languages.

Chief executive Changpeng Zhao demonstrated how a user can order a taxi and pay for the ride in BNB tokens.

#BNB pic.twitter.com/DRmMaVJSQU

— CZ 🔶 Binance (@cz_binance) June 15, 2022

The news came amid negative industry headlines. On June 13, Bitcoin fell below $23,000, and the cryptocurrency market cap fell to the $1 trillion mark. At the time of writing, BTC was trading around $21,700, a 24-hour drop of 2.4% (CoinGecko).

On the same day, the Celsius lending platform suspended withdrawals, swaps and transfers between accounts “due to extreme market conditions”. Difficulties also affected Tron’s algorithmic stablecoin — USDD lost its peg to the US dollar.

A hostile market backdrop and macroeconomic conditions spurred a wave of layoffs across the sector. In particular, Gemini, Coinbase, Crypto.com, Bitso, and Robinhood announced layoffs.

However, Zhao described the crypto winter as a suitable time to expand the workforce and to develop the business further. He said the company has opened 2,000 new roles.

Earlier in June, Bloomberg sources said the U.S. Securities and Exchange Commission had initiated an investigation into Binance’s BNB token.

Later, the Binance chief said that the company had not received any official court summons regarding the token.

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