- Early usage statistics show that Binance Pay’s QR payment product is being used not only for infrequent and high-value purchases, but also for recurring purchases.
- Binance Pay’s QR payment method is designed to interact with current national QR payment standards, rather than relying on the creation of separate merchant acceptance networks.
Today, Binance Pay, the payments arm of Binance, the world’s largest cryptocurrency exchange by trading volume, announced plans to expand its real-world QR payment network to more than 10 countries by Q3 2026. This comes after the product reached a notable milestone. Just one year after its debut in May, $40 million in QR payment transactions have been completed.
Binance Pay’s plan to connect cryptocurrencies to the payment infrastructure that already powers everyday commerce is reflected in its QR payments initiative, starting with key markets in Asia Pacific and Latin America. Users can pay directly with cryptocurrencies in real-time without transaction costs by scanning the current local QR code. No onboarding or new merchant hardware required. Including these two regions, the product is now available in six countries.
Monthly growth further highlights user traction. Monthly trading volume increased by 13% from March to April 2026. This is consistent with the previous month’s pattern, where transactions increased by 23% from February to March 2026. These achievements are unique to Binance Pay’s QR payment product, another layer on the company’s massive network, which has processed over $280 billion in transactions since 2021.
Thomas Gregory, Vice President of Payments and Fiat at Binance, said:
“For much of its history, cryptocurrencies have been viewed as primarily something to be traded or held, rather than something to use in everyday life. We believe QR payments can help change that by connecting digital assets to the payments infrastructure that people already use every day.”
We are focused on enabling the use of cryptocurrencies within existing local payment environments, rather than requiring merchants and users to adopt new systems. Reaching six countries is an important step. Our goal to expand to at least 10 countries and explore additional geographies by Q3 2026 reflects the scale of the opportunity ahead. ”
Early usage statistics show that Binance Pay’s QR payment product is being used not only for infrequent and high-value purchases, but also for recurring purchases. For example, a typical tourist transaction in Asia is less than $10. Street food, transportation, and small retail transactions are typical use cases. Across all sectors, including grocery stores, fast food, and pharmacies, the activity of Latin American merchants shows similar patterns of regular customer usage. Taken as a whole, these patterns indicate that cryptocurrency QR payments are beginning to facilitate the frequent, low-value transactions that characterize everyday business. This is an important sign that cryptocurrencies are becoming more widely used in the real world.
Binance Pay’s QR payment method is designed to interact with current national QR payment standards, rather than relying on the creation of separate merchant acceptance networks. This method allows the use of established payment infrastructures that are currently widely used by customers and retailers. With global mobile QR payment volume expected to exceed $8 trillion by 2029, the addressable market is huge.
Binance Pay plans to expand its QR payment service to more than 10 countries in Asia and Latin America by the third quarter of 2026, and will continue to explore possibilities in additional regions. By integrating cryptocurrencies with payment methods that people are already familiar with and use, the overarching goal is to increase the ease of use and accessibility of cryptocurrencies in everyday life.
