Binance is shifting its focus from trading fees to stablecoin payments, aiming to become a super app for everyday money movement. The company's head of spot and derivatives, Shunyet Jan, said Binance wants to be a payments-focused super app, not just a crypto exchange. This strategy is backed by data: Binance Pay's monthly merchant volume grew 114% year-over-year in 2026, with 98% of that volume in stablecoins across 21 million merchants.
The Super-App Ambition
Binance's vision goes beyond being a trading platform. Jan stated publicly that the company is trying to transform into a super app where payments are central. The exchange claims 323 million registered users across over 100 countries and $156 trillion in all-time traded volume. A new direct-stocks product reached $1 billion in assets under management within 30 days and over $3 billion in cumulative trading volume, signaling cross-sell potential.
The emphasis on payments comes as stablecoins have matured into a usable rail for daily transactions. Users can now spend USDT or USDC without worrying about volatility, making crypto viable for coffee purchases or freelancer payments. The remaining challenges are user experience, compliance, and partnerships.
Why Payments Could Outperform Trading Fees
Trading fees are cyclical—strong in bull markets but thin during downturns. Payments offer a steadier revenue stream, powering recurring spend and payroll year-round. Stablecoin checkout also creates stickiness: merchants that integrate and settle in local currency are less likely to churn than traders chasing rebates. If Binance captures both sides of the transaction loop, it becomes harder to displace.
Additionally, payments data can inform risk models, credit decisions, and targeted offers—insights that a pure trading venue cannot replicate. This data exhaust could fuel new mini-apps and services.
Stablecoins Dominate Checkout
Binance Research reported that Binance Pay's median merchant ticket rose from $10 in 2025 to $18 in 2026, indicating real commerce growth. Bitso's institutional payments unit saw stablecoin volumes jump 81% year-over-year in the first half of 2026, a strong signal from Latin America. Meanwhile, the stablecoin market cap dipped about $10 billion since May, with USDT around $184 billion and USDC near $73 billion by mid-July. However, a flat or shrinking market cap can coexist with rising transaction counts if the same float turns over more often.
What the Super App Could Look Like
A Binance super app might include a wallet defaulting to stablecoins with QR codes for in-person checkout, Binance Pay as a merchant rail for online stores and physical POS, a P2P marketplace for remittances, lightweight invoicing for freelancers, and cross-selling into direct-stocks or yield-bearing accounts where regulations allow. Mini-apps from partners handling loyalty, bill pay, and tickets could also be seeded where merchant density is high.
Competition and Risks
Coinbase is leaning into USDC and wallet UX, PayPal has rolled out PYUSD, and fintechs in emerging markets already use remittances as a wedge. Binance's edge lies in its global user funnel and tight coupling between exchange liquidity and payments UX. The main risk is that local compliance and licensing slow rollout city by city.