Binance Pay is entering the healthcare industry by partnering with Solve.Care, enabling patients and platform users to pay for healthcare services with crypto.
Binance Pay and Solve.Care to enable crypto payments in the healthcare industry
Solve.Care, a blockchain-based digital health care platform, announced the integration of Binance Pay so that its users can make crypto payments for health care services.
Specifically, through the new integration, Solve.Care users and patients will be able to use the more than 70 crypto assets supported by Binance Pay to pay for services on the platform.
In this sense, this collaboration aims to expand the use cases of cryptocurrencies, thereby increasing their adoption.
And indeed, both Solve.Care and Binance Pay, would like to usher in a new era of innovative payment solutions for the healthcare sector, harnessing the power of blockchain technology and the growing crypto community.
Binance Pay and crypto in the healthcare sector
Binance Pay, the contactless crypto payment solution developed by Binance, is thus also accessing the healthcare sector.
And indeed, Solve.Care is a decentralized healthcare platform that hosts a series of state-of-the-art, interoperable, patient-centric Web3 digital health networks.
This ecosystem enables personalized care based on medical conditions, economic factors, social needs and various criteria, raising the standard of health care services for all.
In this regard, Pakning Luk, Head of Global Business Development at said:
“Healthcare is a critical industry that impacts every individual around the world. Through this partnership, Binance Pay users gain access to a plethora of healthcare services worldwide, spanning medications, medical procedures, and physician fees through the use of cryptocurrencies.
In this unique partnership with Solve.Care, we hope to propel the larger crypto industry to adopting crypto and its benefit through the use of the Care.Wallet, empowering users within one of the largest healthcare industries to embrace the future of borderless, secure, and frictionless payments.”
SOLVE’s price pump of more than+100%
In the past 24 hours, following the news of the Binance Pay integration, the native blockchain token used by Solve.Care, SOLVE, has seen a price pump of over +100%.
Indeed, SOLVE went from a price of $0.020 to $0.045, while at the time of writing, SOLVE is worth $0.030.
However, this veritable doubling in price, which is already shrinking, means that Solve.Care’s crypto investors appreciated the news of the platform’s expansion.
Not surprisingly, SOLVE has also reported a +332% increase in transaction volume over the past 24 hours. At the time of writing, the crypto’s total market cap is just $17,059.
Binance Pay vs PayPal
It was February 2021 when Binance announced the beta version of its contactless service for crypto payments, Binance Pay.
Right from the start, Binance’s payments solution was compared to PayPal, so much so that it was thought that the crypto-exchange was inspired by the payments giant.
Yet at that time, PayPal already allowed the buying and selling of crypto, but did not allow the receiving or sending of tokens, which could only be bought, stored and sold.
However, from that time to today, some change has taken place. For one thing, in August this year, PayPal announced the launch of its PYUSD stablecoin, pegged to the US dollar and created in partnership with the company Paxos.
Meanwhile, Binance Pay has seen its use grow in several areas both online and physical. For example, in March 2023, along with Alchemy Pay, Binance Pay was integrated by the well-known fast-food chain Burger King in the city of Paris as a crypto payment mode.