Binance
Rolls out Crypto Debit Card in Europe
Cryptocurrency exchange Binance
has announced the official rollout of its cryptocurrency debit card, the
Binance Card, in the European Economic Area and the UK. The Binance Card will
initially support four cryptoassets: bitcoin, Binance Coin (BNB), Binance’s BUSD stablecoin, and Swipe’s SXP token.
Using the card users will be
able to pay with cryptocurrency at over 60 million merchants throughout the
world. The card allows users to keep their crypto in their native form until
a point-of-sale transaction occurs, at which point the funds are converted to
fiat.
The card is powered by Swipe, a
cryptocurrency debit card issuer that Binance acquired earlier this year for
an undisclosed sum. Commenting on the card’s rollout, Binance CEO Changpeng
Zhao said the firm is furthering its mission “of making crypto more
accessible to the masses,” and added:
“Giving users the ability to convert and
spend their crypto directly with merchants around the world, will make the
crypto experience more seamless and applicable.”
Users will be able to top up
their Binance Cards directly from the cryptocurrency exchange’s wallet, and
choose which cryptoasset they want to spend when making a transaction. The
card will be rolled out to other regions in the future.
