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Rising Binance Pay merchants show how fast crypto payments are moving into everyday commerce across regions and industries.
Summary
How fast is Binance Pay expanding its merchant base?
In less than a year, Binance Pay has jumped from just 12,000 merchants at the start of 2025 to over 20 million worldwide, a roughly 1,700-fold surge. This explosive growth highlights how digital assets are reshaping payments. Moreover, it underlines how quickly businesses are embracing crypto at checkout instead of treating it as a niche experiment.
The service focuses on instant, low-cost and borderless transactions, which makes it attractive to both online and offline retailers. From Latin America to Africa, Europe, the Middle East and Asia, new partners keep joining the expanding network of merchants accepting crypto. That said, the scale of this adoption is still unusual in the broader payments industry.
Why are stablecoins powering this crypto payments growth?
Stable-value tokens now dominate activity on the platform. So far in 2025, over 98% of business-to-consumer transactions on Binance Pay have settled in stablecoins such as USDT, USDC and EURI. These assets help users avoid price swings while still benefiting from blockchain settlement. In practice, they minimise volatility risk for shoppers and merchants who simply want reliable digital cash.
Stablecoins also tackle long-standing pain points in traditional payments. Transactions settle almost instantly, while cross-border transfers cost far less than many bank or card options. As a result, these stablecoin settlement solutions open access to financial services for people and businesses that have been underserved by banks. However, they still rely on compliant on- and off-ramps to connect into local currencies.
The momentum is visible in wider on-chain metrics. According to Artemis research, monthly stablecoin payment volumes surpassed $10 billion as of August 2025, up 82% from the start of the year. This shows that digital dollars are increasingly used for payments rather than only for trading. Moreover, it indicates rising stablecoin payment adoption across mainstream users and geographies.
What do current Binance Pay statistics reveal about user adoption?
The user base of Binance Pay has already expanded to more than 45 million people globally in 2025. This signals that crypto payments are no longer limited to early adopters and specialist platforms. Instead, they are gaining traction among everyday consumers who value speed and lower fees. However, user protection and regulatory clarity remain key for long-term growth.
Regional integrations are helping push usage higher. In Brazil, Binance Pay connects directly with the national Pix instant-payments network for rapid crypto-to-reais conversions, as reported by Electronic Payments International. Meanwhile, in Argentina, shoppers can scan QR codes at thousands of merchants to pay with digital assets for everyday essentials and travel services. These examples show how tailored local solutions can accelerate adoption.
Which industries feature most in the Binance Pay merchants list?
The network already spans retail, luxury, hospitality, gaming and more. Real-world brands give a sense of the breadth. In the travel sector, the JW Marriott in Cannes accepts crypto payments from guests. In fast food, KFC outlets in South Africa support digital asset payments. Moreover, supermarket chain SPAR in Switzerland is another prominent example of real-world usage.
These partnerships show that global brands are willing to experiment with new settlement rails when they lower costs and expand customer reach. For many businesses, integrating a crypto checkout sits alongside cards and digital wallets. However, for customers in countries with currency instability or capital controls, these options can be more than a convenience; they can be a lifeline.
How does Binance Pay compare within the broader cross-border crypto payments landscape?
The rapid growth in cross border crypto payments is forcing legacy systems to respond. Traditional financial institutions are exploring blockchain-based infrastructures to stay relevant. SWIFT, the global interbank network, has introduced a blockchain-based ledger for cross-border settlements, reflecting this strategic shift. That said, banks still control most of the global payments volume.
Research from Artemis, summarised in an extensive 2025 stablecoin payments report available via Artemis Analytics, indicates that stablecoins are steadily moving into mainstream commerce. Meanwhile, settlement volumes jumped from around $6 billion to over $10 billion by August 2025. Moreover, these data points align with the platform’s own expansion.
As more Binance Pay merchants join and new regions roll out integrations, crypto-native rails could increasingly complement or, in some corridors, bypass traditional intermediaries. The combination of low fees, instant settlement and global reach positions stablecoins as a practical medium for day-to-day payments, even as regulation and infrastructure continue to evolve.