TL;DR:
Binance Pay will expand its global crypto QR payment network. The service, which has accumulated over $280 billion in transaction volume since its launch in 2021, processed $40 million in payments via QR codes during its first year of operation across six countries. With those figures, the company announced plans to expand integrations with local QR networks to at least ten new markets before the end of the third quarter of 2026.
Binance Pay’s approach does not involve building new point-of-sale infrastructure. Instead, it integrates with existing QR standards already in place in each market. Merchants require no additional hardware, and users pay directly through the exchange’s app, which converts crypto assets at the exchange rate in effect at the time of the transaction.
The rollout began in Latin America in May 2025, where registered users in countries across the region can scan local QR codes and pay in cryptocurrencies. The expansion into Asia introduced a different dimension: in Vietnam, international tourists can use the VietQR system through the Binance app, eliminating the need to exchange currencies or withdraw local cash.
Usage data shows that Binance continues strengthening its adoption in everyday life. The average transaction by tourists in Vietnam is under $10, indicating that the service is used for frequent, low-value purchases, similar to those made with cash or card. Between March and April 2026, volume grew 13% month over month.
Retail crypto transactions grew more than 125% year over year in 2025, according to data cited by the company itself. However, the infrastructure for spending those assets on a daily basis has historically lagged behind demand. Global mobile QR payments are projected to reach $8 trillion in 2026, with the Asia Pacific region accounting for more than half of that volume.
