Seychelles-based cryptocurrency company Binance has announced the launch of its cryptocurrency debit card in Europe and the United Kingdom. 

The new card will allow users to convert and spend their Bitcoin (BTC), Binance token (BNB), Swipe’s native SXP, and stablecoin Binance USD (BUSD) to fiat at more than 60 million merchants across 200 regions and territories worldwide. 

In contrast to most crypto cards, the new Binance card functions like a true debit card, rather than a prepaid card. Powered by Swipe’s platform, the Binance Card means crypto assets remain in their native form until the point-of-sale. 

Users can recharge their Card Wallet from their Binance Spot Wallet, and set an order of preference to debit their crypto assets. 

Discussing the launch Binance CEO, Changpeng Zhao (CZ), said:

“By providing a tangible way to transact, convert, and spend crypto for everyday use, we are furthering our mission of making crypto more accessible to the masses. 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.

“We are looking forward to making the Binance Card available to users in other regions, as well as introducing new features to enhance the Binance Card experience through our partnership with Swipe.”

Binance users based in the European Economic Area (EEA) will be able to apply for a card from August, with applications for UK users will open shortly after. The company has also said to be planning a US launch subject to completing the necessary licensing and registrations.

AYO.NEWS says:

Though crypto payment cards are nothing new, by creating a frictionless way to use cryptocurrencies for everyday purchases, without the need to remember to pre-load it, the Binance Card is yet another small but real step towards taking cryptocurrencies truly into the mainstream.

Staying with Binance, last week the company announced it was adding fiat gateway support for 15 national currencies through a partnership with Etana Custody.  

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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