- Binance users can now book taxis to various locations directly on the Binance app.
- CEO Changpeng Zhao said the service is available in 150 countries.
- The new product launch may shoot up the price of BNB. BNB currently trades at $200.40, having lost 11% in the last 24 hours and 32% in the last 7 days
Binance, the largest cryptocurrency exchange by trading volume, just added another leaf to its wide range of services.
Binance users can now book taxis to various locations directly on the Binance app. Changpeng Zhao, the co-founder and CEO of Binance, said via Twitter (NYSE:TWTR) that the service is available to 150 countries across the globe.
Users can pay for their rides with either Binance Coin (BNB) or Binance USD (BUSD). This rider service is available in the Binance exchange app under the Binance Pay section, accessible by swiping down from the exchange app.
Binance Pay is a contactless, borderless, and secure cryptocurrency payment technology launched by Binance Exchange in 2021. It allows users to shop with or send crypto to friends and family worldwide with zero fees. Other services on the Binance Pay include mobile airtime purchases, game top-up, and more.
Amid the global crypto market crash, this new product announcement may potentially shoot up the price of BNB. At the time of writing, BNB trades at $200.40, having lost 11% of its value in the last 24 hours and 32% in the last seven days. BNB is one of the top five cryptocurrencies with a market cap of over $32 billion.
BNB is also the utility token on the Binance Smart Chain (BSC) for validating transactions. The Binance Smart Chain has processed more than 3 billion transactions from 163 million unique addresses since its launch in 2020. The BSC ecosystem has more than 1,300 active dApps across multiple categories, including Defi, Metaverse, blockchain games, NFT, and more.