Binance Pay and GoCrypto announce a partnership deal- Can this change word of crypto payments?


One of the biggest news this week in crypto space is that GoCrypto any BinacePAY have joined forces on a path to bring cryptocurrency payments to the mass adoption. The Binance Pay crypto payment technology has been integrated into the GoCrypto payment network. This means that tens of millions of users of the Binance app can now spend 40+ Binance Pay-supported cryptocurrencies at thousands of GoCrypto locations around the world. 

GoCrypto is one of the best payment networks in the world. They are developing POS terminals, web payment solutions and physical exchanges of crypto.  They created token $GoC which was first created on SLP but in the past, they created a bridge between SLP and BSC (Binance smart chain). They released the own GoC Bridge for fast and secure bi-directional swaps of the GoC token between the SLP protocol on the Bitcoin Cash blockchain (BCH) and the Binance Smart Chain (BSC). In the future, they have the plan to do the same on Solana (SOL) network. 

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The GoC Bridge represents a brand new chapter in GoC token utility. The bridge makes it incredibly easy to form new potential partnerships with other crypto wallets and integrating them into the GoCrypto Payment Network. It also opens the door to new potential listings on new crypto exchanges. The release of the GoC Bridges marks a major milestone for the GoC token holders and its community. 

For now, BSC bridge is working perfectly. If you have any questions join GoCrypto Telegram community or check out "How TO" on their website.

In my opinion BSC decision was great because now they have the possibility to cooperate with many new players in the crypto world. Exchanges will have much easier work to list the token. In days after the news release also Changpeng“CZ” Zhao tweeted and commended the good work of GoCrypto team and said the this is not the end of cooperation between companies but just the start of something big and interesting.

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"Partnering with GoCrypto, Binance Pay takes a step forwards in helping to bridge the gap between conventional financial systems and the crypto ecosystem making crypto adoption for payments easier.”Changpeng“CZ” Zhao, CEO and co-founder at Binance 

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For sure GoCrypto is small, much smaller than Binance, but we have to admit something. GoCrypto has one big advantage over Binance. GoCrypto is working hard to be fully regulated, certified and approved by all regulators. Till now they have done a great job and acquired many licences in EU and all around the world. They signed a partnerships, integrated the GoC app in Global Payments s.r.o. products, they were the first crypto company to get E-Money licence and signed a partnership with big fully regulated German TEN31 (WEG Bank AG), they hold 2 ISO certifiacations for business compliance (ISO:27001 & ISO:9001) and many other things. Binance will have to walk this path in the future. If you want to be some kind of bridge between the ordinary financial world and the world of crypto you have to respect the rules from big players. But if something is sure, the licences can't be just paid, but you have to do many things to be in compliance and if something money can't buy is time. Every licence takes a lot of money first, secondly - you have to do a lot of paperwork and at the end the regulators take a lot of time to decide. 

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At the very end. Binance saw a big potential in GoCrypto they haven't tried to do all these things by themself, but signed a partnership and pushed small project like GoCrypto to a totally new level. Now the path is clear and I am sure that Dejan Roljic and the team behind, will write new, big and interesting stories with GoC in the future. 

 

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Blog about Crypto, opensource and everything else
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