The CEO of the crypto exchange giant Binance Changpeng Zhao recently demonstrated the first use of Binance Card, a cryptocurrency debit card that was first announced by Binance in April 2020. The CEO revealed in a tweet that he is taking part in Binance Card beta testing, featuring transactions involving Binance’s native token, BNB. He further noted that the beta test features “all real transactions,” including Amazon’s audio store Audible, Uber alternative Grab, and a major e-commerce platform, Lazada.
“I think I can go from 99% to 100% crypto.”
Binance CEO Changpeng Zhao, also known as CZ in the crypto community, said that the BNB payments were completed directly from his Binance account, while merchants accepted the payment in fiat. “with Binance Card I think I can finally go from 99% to 100% crypto,” the CEO added. The crypto exchange’s debit card is now officially powered by Swipe, which is a Philippines-headquartered firm crypto-to-fiat debit card provider that was officially acquired by Binance earlier this month.
I am so excited. I love beta testing products…
All real transactions. Audible/Amzn, Grab (Uber replacement), Lazada (Amzn replacement). Merchants accepts fiat, I paid in #BNB, direct from my Binance account.#Binance Card – I think I can finally go from 99% to 100% crypto. pic.twitter.com/8b60A6Cpui
— CZ Binance (@cz_binance) July 10, 2020
Binance continues its global expansion.
The crypto exchange giant Binance has been on an acquisition spree for the last few years. The crypto exchange has acquired several local crypto and blockchain businesses in different parts of the world to make it feel global. Earlier this month, Binance announced that it had completed the acquisition of Swipe at an undisclosed amount of sum. The company announced that Binance and Swipe would work together to further mainstream crypto adoption by bridging the gap between fiat and digital assets, notably payments and purchases in cryptocurrency through traditional financial systems.
Binance also launched its mining pool earlier this year, which was met with some criticism from the crypto community. The centralized power with Binance could lead to a monopoly in the crypto industry, with Binance expanding so fast. However, the exchange denied such arguments saying that they believe in co-existing.
— Swipe (@SwipeWallet) July 10, 2020