PIP Introduces Binance Ecosystem Tokens Boosting Its Web 3 Payment Processes

The payment solution will include Binance Coin (BNB) and Binance USD (BUSD) stablecoin payments for its users via its PIP Extension integration.

Digital payment solution, PIP is finally launching its services in the Binance ecosystem, becoming the latest blockchain to join the platform. According to a team statement this Tuesday, the web 3 payment solution provider will start supporting $BNB and $BUSD stablecoin payments across its platform, allowing Binance Smart Chain users to make payments on their favourite social media platforms. The platform's PIP Extension product will provide the advanced service needed to connect Web 3 payments to connected Web 2 platforms.

The integration of the browser-based PIP Extension aims at capturing the attention of millions of users of Binance's ecosystem, laying out a channel for them to make simplified and cost-effective transactions using crypto. With the growing crypto adoption rates, PIP aims to help the vision of microeconomic transactions on the blockchain by creating an inclusive, user-friendly platform that breaks down the barriers for billions of social media users across the globe.

"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's CEO and Co-Founder, Jeff Baek said on the latest integration of Binance's ecosystem.

To date, PIP boasts over 60,000 users on the platform and over $15 million worth of crypto transferred on its platform. This sublime rise lies in the ease of transacting on the platform and connection to social media which helps users monetize their content. Simply, PIP aims to reduce the complexity and cost of crypto transactions by introducing simple payment methods that anyone can use including the PIP Extension, PIP Button, and PIP.ME and more.

To start transacting, users need to create a simple and unique PIP tag (which mirrors their wallet address) and then connect it to a supported social media account such as Twitch, Reddit, Twitter, Discord etc. Once connected, the user shares their tag and can receive payments, donations, and tips directly from their social media accounts. 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.

Additionally, social media users selling products or services can also seamlessly receive payments and tips for their products. This provides the user with an inclusive monetization channel directly on their social media. Also, they can leverage the power of blockchain technology by sharing their tags on their social media profiles, providing a more cost-effective and simple way to exchange values between them compared to legacy services. Notwithstanding, PIP also allows users without a PIP account to participate, accepting transactions through an escrow-based payment system.

Apart from the PIP Extension product, PIP also offers users the PIP Button, which is a payment button that is simple to create and can be embedded into any website, HTML or React. The PIP Button is designed to aid the monetization and payments on online services by allowing non-coders to create their own payment button, customize it, and select which cryptocurrencies they would like to receive.

In the near future, PIP is planning to add the Binance tokens to its PIP Button and PIP.ME, a free Web3 profile that allows users to connect to audiences and accept payments. The PIP.ME is a Web 3 link that can be customized and shared to start accepting payments, display, or market digital assets such as NFTs, and also share content. Lastly, PIP is also planning to "add other consumer-focused Web3 services to its lineup" including support for other blockchains, tokens, and social media platforms.