After testing the eagerly-anticipated Binance Card in Malaysia and Vietnam, Binance is making its debit card available to its users in Europe (European Economic Area) and the UK from August 2020 onwards. Powered by Philippines-based crypto wallet Swipe which Binance acquired early this month, these users will be able to spend their Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD) and the Swipe token (SXP) directly from their wallets with any merchants that accept VISA, even those outside of the card’s issuing territories.
Binance has gone a step further with its debit cards as compared to its competitors that typically offer prepaid debit cards, meaning that users have to transfer funds from their exchange wallets to top up the cards before use. This can be rather cumbersome for some users and the Binance Card circumvents this inconvenience by allowing direct conversions and deductions of funds from a user’s wallet.
“By providing a tangible way to transact, convert and spend cryptocurrencies for everyday use, we are continuing our mission to make digital assets more accessible to the general public. By giving users the ability to convert and spend their cryptos directly from traders around the world, we will make the cryptocurrency experience more transparent and more convenient. We look forward to making the Binance Card available to users in other regions, and to introducing new features to enhance the Binance Card experience through our partnership with Swipe,” said Changpeng Zhao (CZ), CEO of Binance.
The card will supposedly be used in tandem with the Binance Card App, which CZ announced he was beta testing the card a few days ago and showed successful purchases on several e-commerce platforms such as Lazada, Grab, Amazon and Audible.
Binance Card Image Courtesy: Binance
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