VeChain can be used as payment method in 2 million stores - VET bridged to BNB chain

Supply chain blockchain project VeChain has announced a new partnership with crypto payment service Alchemy Pay, which will allow people to use its VET token as a payment method at more than 2 million stores in 70 different countries.

Meanwhile, the recently released Binance Bridge 2.0 also includes it as a supported token.

VeChain is included in the first set of tokens supported by the new Binance Bridge 2.0. Binance Bridge 2.0 provides a new way to bridge tokens from Ethereum to be used on the BNB chain.

Other bridge tokens include SAND, APE, JASMY, MANA, PEOPLE, MBL, LOOKS, and ELON.

If that wasn’t enough, VeChain also announced on Thursday that it has joined the Blockchain Infrastructure Alliance (BIA), an organization that connects industry experts and provides funding for blockchain-related research projects.

VeChain CEO Sunny Lu spoke enthusiastically about the new partnership with BIA.

"By partnering with the leading blockchain community, we can understand and support each other to elevate the entire industry."

VeChain is a supply chain tracking system launched in 2015 that combines physical tracking with blockchain record-keeping. VeChain is currently working with various organizations to provide logistics and supply chain-focused tracking solutions.

VeChain utilizes a Proof of Authority (PoA) consensus mechanism with 101 masternodes by verifying identities and reputations rather than staking or mining.

The recent announcement barely changed the price of VET, with the token temporarily up 4% before falling back to the pre-announcement price and trading sideways from there. According to TradingView at the time of writing, VET is currently trading at $0.051.