Web3 platform PIP has announced integration with the Binance ecosystem as it looks to help Web2 platforms tap into and benefit from Web3 services.
The integration has been undertaken via PIP’s extension product and will boost the bridging of services across Web3 and social media platforms within the Web2 ecosystem, Pip said in its announcement.
How does it work?
To benefit from the PIP integration, users will have to generate a unique PIP tag, which they’ll then use to connect to a social media account. With a supported account, a user can go on to complete payments to other users on the network by simply using the unique tag – not the long wallet addresses.
Using the browser-based extension on Binance makes it possible for millions of users leveraging the ecosystem’s Binance Coin (BNB), Binance USD (BUSD) and Binance Smart Chain (BSC) to connect with and benefit from Web3’s value proposition.
The Web3 profile link PIP.ME and PIP Button will also provide for further integration around payments, and sharing of content.
Even users without PIP accounts will still be able to tap into these benefits, with payments processed via escrow systems.
The BUSD ecosystem
For users, this will be possible via an environment that supports inclusive financial services, with PIP co-founder Jeff Baek seeing the integration help further adoption and use of the stablecoin BUSD.
“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,” he said in a press release shared with Invezz:
The extension supports most of the top cryptocurrencies and stablecoins, allowing users to complete payments or benefit from monetisation offerings available across social media and websites. This can be done through sharing of PIP tags or embedding PIP buttons – easy and seamless ways of accessing and transferring value on Web2 platforms such as Twitter (TWTR), Twitch, Discord, and Reddit.
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