Binance Pay, in 2025, expanded its network to 20 million merchants globally and stepping into 2026 the platform is aiming at onboarding the next 100 million non-crypto natives into the ecosystem. Thomas Gregory, the Vice President of Fiat at Binance recently joined a conversation with Coin Headlines to discuss what the exchange plans for its next leg of growth in terms of products, security, and partnerships with titans from the traditional finance space.
Gregory, speaking with Coin Headlines, highlighted that the exchange is prioritizing crypto-to-fiat on-ramp and off-ramp channels to bridge the gap between DeFi and TradFi. Seeking more local recognition in different regions internationally, the exchange claims to have grown from eight to ten fiat on/off-ramp channels to over 70 in 2025.
“I want every user in every region to have a way to be able to get their money into Binance which they recognize locally. That’s how we’re going to attract the next 100 million people. Its about getting my mum into Binance or, yeah, your cousin, someone that’s not a crypto native, and that’s how we’re going to do it,” Gregory said.
In milestone developments for 2025, Binance inked deals with Google Pay and Apple Pay to allow its users to purchase crypto via credit and debit cards linked on the payment apps. The feature was rolled out primarily for crypto purchases in USD and EUR.
Gregory, while tight-lipped on the specifics, hinted that in the next six months, the exchange could announce major partnerships with established P2P payment players like PayPal or Venmo among others. He highlighted that because Google and Apple Pay tokenize the card numbers, eliminate the need for typing these numbers on a separate service to process transactions, and do not actually share the card numbers, it gives users more confidence to engage with crypto.
“More people prefer to use Google and Apple Pay rather than traditional cards. Integration with these platforms have significantly improved conversion rate. What I can say is, like, if I was to see you in six months time, we’ll have some more to talk about. Because, we look to partner as many of these companies as possible,” he noted. “Our users have wallets already with Venmo or PayPal so these partnerships would let our users recognize and use these services to process fiat-to-crypto transactions.”
According to Binance’s outlook towards DeFi, crypto P2P services like on/off ramps and Binance Pay are the next generation of “gateway products” into the banking services we know and use in the present day. Stablecoin-centric services are also under the spotlight for the exchange as Gregory disclosed that over 98 percent of B2C transactions on Binance Pay are now conducted via stablecoins (such as USDT, USDC, and EURI), serving as “digital cash” for global users.
In 2025, for Binance, Latin America emerged as the leader in retail crypto adoption whereas the Middle East has retained its top position in institutional and corporate crypto integration.
Touted as the largest crypto exchange globally, Binance controls over $200 billion worth of crypto assets under management, as per Arkham Intelligence. Since being launched in 2021, its Binance Pay service has clocked just under $250 billion in transactions, Gregory said, forecasting growth in this aspect moving forward. He went on to add that the exchange wishes to keep an “agnostic” approach and design such fiat-to-crypto services that fits all categories of clients – from retail to corporates.