VeChain can be used as a means of payment in 2 million stores – and VET can be bridged with the BNB chain

Supply chain blockchain project VeChain has announced a new partnership with crypto payment service Alchemy Pay that will allow people to use their VET token as a means of payment at over 2 million stores in 70 different countries.

The news came along with its inclusion as a supported token in the recently launched Binance Bridge 2.0.

VeChain has been included in the first group of tokens supported on the new Binance Bridge 2.0. The Binance Bridge 2.0 offers a new way to bridge tokens from Ethereum to be used on the BNB chain – formerly known as the Binance Smart Chain.

The other bridged tokens are SAND, APE, JASMY, MANA, PEOPLE, MBL, LOOKS, and ELON.

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

Sunny Lu, CEO of VeChain, spoke warmly about the new affiliation with the BIA.

“By working with this group of leading blockchains, we can develop understanding and support each other to move the industry forward as a whole.”

VeChain is a supply chain tracking system launched in 2015 that combines physical tracking with blockchain recording. VeChain is currently working with a variety of organizations to provide logistics and supply chain oriented tracking solutions.

VeChain uses a Proof of Authority (PoA) consensus mechanism that has 101 masternodes and functions by verifying identities and reputation instead of staking or mining.

Related: Alchemy Pay works with the global payment provider Checkout.com

Recent announcements have done little to move VET’s price, with the token posting a temporary 4% gain before falling back to pre-announcement prices and trading sideways from there. VET is currently trading for $0.051 at the time of writing, according to TradingView.