HANOI, Vietnam, March 25, 2025 /PRNewswire/ -- The French Development Finance Institution (Proparco) and the Dutch Entrepreneurial Development Bank (FMO) have signed a loan agreement worth US$80 million, of which each party invest US$40 million, with Southeast Asia Commercial Joint Stock Bank (SeABank, stock code: SSB).
The funding strengthens SeABank's financial capacity to enhance financial access, improve capacities and expand key business areas for Vietnamese SMEs and women-owned enterprises; while improving the implementation of international practices in E&S risk management and climate change mitigation.
This also marks the beginning of a partnership focused on economic growth and financial inclusion.
Speaking at the ceremony, Mr. Le Van Tan - Chairman of the BOD (SeABank) highlighted SeABank's customer-centric commitment to guaranteeing equal financial access for all individuals and businesses, and emphasized: "The investment aligns with SeABank's sustainability strategy and enhances SeABank's ability to offer effective financial solutions, support SMEs, women-owned entrepreneurs, and climate action".
Mr. Olivier Brochet - French Ambassador to Vietnam expressed his support for Proparco's meaningful activities in the Vietnamese market, and shared: "As the Vietnam-France relationship has been elevated to a Comprehensive Strategic Partnership, we remain committed to supporting Vietnam's development. This cooperation is in line with our strategic direction and the common commitments at the G7 Summit 2024, particularly aims to address challenges of the new era through ecosystem protection and SMEs, women-owned entrepreneurs support".
Mr. Kees van Baar - Dutch Ambassador to Vietnam highlighted the Netherlands' role as Vietnam's largest European investor and trading partner, found common strengths in water resources, and shared development objectives of driving growth in Vietnam focusing on SMEs and women-owned enterprises. Mr. Kees van Baar emphasized the reason for choosing SeABank as partner: "SeABank has a clear strategic vision in providing financial solutions that support private enterprises, SMEs, and women-owned enterprises; along with international reputation and network to implement these initiatives. I believe that FMO and Dutch enterprises, together with SeABank and its ecosystem partners will have cooperative opportunities in the near future".
With this investment, SeABank's total international mobilization has reached nearly US$1.1 billion. This includes loans, credits, and trade finance from major financial institutions such as DFC, IFC, AIIB, Norfund, and OPEC Fund, etc. The growing trust from global partners demonstrates SeABank's strong reputation, operational efficiency, and commitment to supporting SMEs and women-owned enterprises.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
SeABank receives investment of US$80 million from Proparco and FMO - the French and Dutch government-owned financial institutions
Functionality already familiar to 174 million Brazilians increases usability and can boost the adoption of cryptocurrencies in the country, says Regional VP Guilherme Nazar
SÃO PAULO, May 21, 2025 /PRNewswire/ -- Binance, the world's largest cryptocurrency platform by trading volume and number of users, has integrated its payment solution, Binance Pay, with Brazil's Pix system to enable instant payments in the local currency using cryptocurrencies and transfers to any individual or merchant across Latin America's largest country.
With the integration, Binance users in Brazil can now make instant transfers and payments directly from their accounts on the Binance exchange to any bank account or pay merchants accepting Pix. The value of the digital asset is instantly converted to Brazilian reais with transactions completed in seconds. Supporting over 100 cryptocurrencies, this launch marks the integration of Binance Pay with Brazil's widely used national Pix payment network — bringing crypto into everyday life and making it easier for users to spend digital assets in real-world transactions.
Richard Teng, CEO of Binance, says: "Integrating Pix, a remarkable development by the government of Brazil, with Binance Pay marks a revolutionary step forward, combining the speed and accessibility of Brazil's instant payment system with the global reach and innovation of Binance. This synergy empowers users with seamless, real-time transactions, enhancing the crypto experience and driving financial inclusion to new heights."
Guilherme Nazar, Binance's regional vice president for Latin America, adds: "This is a significant milestone because it is the first time Binance Pay is integrated into a national payment system in the world. It allows our users in Brazil to use their cryptocurrencies for payments at any commercial establishment and to anyone in the country, quickly, safely and easily, using a system they are already familiar with. This launch makes cryptocurrencies more accessible and usable in everyday life, and reflects Binance's commitment to customizing its global products to meet the demands of our local users."
Pix, an instant payment service launched by the Central Bank of Brazil, has been gaining the preference of Brazilians since its launch in 2020. Currently, more than 174 million people and many institutions use the service in the country and carry out around 6 billion transactions per month, according to data from the authority.
According to the survey "Brazilians and their Relationship with Money", released by the Central Bank, Pix is already used by 76.4% of the Brazilian population, surpassing the use of cash (68.9%) and debit cards (69.1%).
"Payments are one of the most obvious uses of cryptocurrencies. The integration of Binance Pay with Pix makes cryptocurrency payments more intuitive and familiar to Brazilians who are already accustomed to the Central Bank's tool, and consequently boosts the growth of digital asset adoption in the country", adds Nazar.
Brazil is the 6th-largest market in cryptocurrency adoption in the world, with around 17.5% of the population already owning some type of digital asset, according to data from the Triple-A consultancy. A recent survey conducted by Instituto Locomotiva for Binance showed that 42% of Brazilian investors already have exposure to digital assets, a percentage equal to that of those who own investment funds and stocks.
To learn how to use Pix with Binance Pay, click here.
About Binance Pay
Binance Pay is a seamless, borderless, and secure cryptocurrency payment feature on the Binance app, allowing users and merchants to pay, send and receive crypto worldwide without incurring gas fees. With support for over 300 cryptocurrencies, it caters to more than 40 million active users and 32,000 merchants. Trusted by over 270 million people across 100+ countries, Binance stands as the world's largest cryptocurrency exchange by trading volume and registered users.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Binance Pay integrates with Pix, enabling instant crypto-powered payments in Brazilian Reais across Brazil
