Cryptocurrency Payments Expand Across French Riviera with Binance Pay and Lyzi Partnership

Binance Pay, in collaboration with French fintech Lyzi, has successfully introduced cryptocurrency payment options to over 80 businesses across the French Riviera. This initiative spans prominent cities such as Cannes, Nice, Antibes, and Monaco, integrating digital assets into the region's thriving luxury tourism and retail economy. The French Riviera, also known as the Côte d’Azur, is renowned for its allure as a tourist destination, attracting visitors from around the world.

The partnership enables both tourists and locals to utilize stablecoins and other cryptocurrencies for payments at a diverse range of establishments. These include hotels, restaurants, beach clubs, luxury retailers, and various service providers. The payment process is streamlined through QR code scanning and instant transaction confirmation, eliminating the need for gas fees. Merchants benefit from immediate euro settlements, thanks to the system's seamless integration.

This move aligns with the broader trend of crypto adoption in the region. City officials in Cannes have been proactive in promoting cryptocurrency payments among local merchants. Earlier this year, Cannes Mayor David Lisnard encouraged businesses to accept cryptocurrency payments alongside euros, emphasizing the importance of adaptation to avoid missing out on opportunities.

Binance Pay's system supports over 100 cryptocurrencies, including euro and US dollar-backed stablecoins. The platform is equipped with robust security features such as encrypted transfers, two-factor authentication, and real-time confirmations. David Princay, CEO of Binance France, highlighted the significance of this adoption, stating that it demonstrates the growing integration of digital assets into everyday life.

Several high-profile venues and businesses have already embraced this initiative. In Cannes, the JW Marriott and Hotel Gray d’Albion now accept crypto payments. Beach clubs like Palais Stéphanie Beach and luxury retailers such as Parker and Smith in Monaco have also joined the movement. Wellness-focused businesses like Palm Gym in Antibes are part of this initiative as well.

To further promote the adoption of crypto payments, Binance Pay launched a promotional campaign offering shoppers a 5 EURI reward for eligible purchases of at least 20 euros in crypto. This campaign, running until Sunday, aims to incentivize consumers to try out the new payment method.

The French Riviera's embrace of cryptocurrency payments is part of a broader global trend where regions are increasingly recognizing the potential of digital assets in enhancing tourism and retail experiences. This initiative not only provides convenience to consumers but also offers merchants a modern and efficient way to handle transactions, potentially attracting a new demographic of tech-savvy customers.