Aeon Connects to BNB to Expand Crypto Payments in Southeast Asia

Payments protocol Aeon says it has launched cryptocurrency payments on the BNB chain.

The company announced Monday (Nov. 11) that it has brought a streamlined QR code payment system to BNB with Terminus to expand crypto payment accessibility in Southeast Asia.

This move, Aeon said in a news release, is designed to improve convenience for users and merchants while providing a better crypto payment experience on BNB Chain at offline locations across the region.

“Aeon’s synergy with BNB Chain and Terminus delivers a streamlined, user-friendly process for making crypto payments in physical stores,” the release said.

“By using the Terminus & Aeon app, customers can simply scan a QR code displayed at participating offline merchants, select BNB or other tokens as their payment method, and send the payment directly to the designated wallet.”

After the transaction is confirmed, the funds are converted instantly into local fiat currency, doing away with any friction for merchants who can accept crypto with no need for added infrastructure or technical adjustments.

Last month, Aeon said it was integrating the Tron network as its underlying cryptocurrency payment infrastructure, a partnership that “opens new opportunities for seamless crypto payment across the Tron ecosystem.”

The company said this collaboration allows decentralized applications (dApps) on Tron accept crypto payments via Aeon, making it easier for users to pay for things such as subscriptions and tipping.

“This streamlined process will reduce barriers to adoption, providing faster and more efficient payment experiences within the Tron ecosystem,” the companies said in a news release.

Tron, “known for its scalable and efficient blockchain network, complements this integration by providing a robust platform for dApps,” the release said, pointing to its “fast transaction speeds and low fees.”

Looking at the crypto payments landscape earlier this year, PYMNTS noted that in spite of the digital currency’s increasing financial influence and the wealth of its investors, one question still remains: Can crypto live up to its promise as a viable payment mechanism, especially when other digital payment innovations are evolving to meet the needs of commerce?

“Despite the explosive growth in crypto wealth, the adoption of cryptocurrencies as a mainstream payment mechanism remains limited,” that report said.

“While bitcoin and other digital assets have made strides in being accepted by a growing number of merchants, significant hurdles remain in proving their utility and scalability — not the least of which is the same volatility that has created the rising cohort of over 170,000 crypto millionaires.”