Binance’s highly-anticipated crypto debit card, Binance Card, is officially debuting in the European Economic Area or EEA countries. The EEA-based users will be able to apply for a Binance Card starting next month. While the United Kingdom will follow soon, users in other regions are invited to “register their interest” via the Binance Card website, the firm said. Swipe is currently available in 31 countries within the EEA, including countries like France, Germany, Italy, and Spain. However, Swipe is not currently available in the United States, but the firm is reportedly planning to release the service soon after completing concerned licensing and registrations, as per the Finance Yahoo report.
Binance Card will support four cryptocurrencies at the launch.
As per the exchange’s announcement, the crypto card will support a total of four digital currencies at the launch. The cryptocurrencies include Bitcoin, SXP, Swipe’s native token, and Binance’s native token BNB and stablecoin, BUSD. The exchange, the Binance Card rollout, will enable the users to instantly convert the cryptos to fiat and spend them at over 60 million merchants across 200 regions and territories. The crypto exchange giant emphasized that the crypto debit card will basically work like a traditional debit card and will not require users to convert crypto to fiat before making a purchase.
Binance CEO demonstrated the first use of the crypto card.
Earlier, Changpeng Zhao, CEO of one of the leading crypto exchanges Binance, demonstrated the first-ever use of the Binance Card. CZ revealed in a tweet that he is taking part in the 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. The CEO noted that BNB payments were made directly from his exchange account, while merchants accepted the payment in fiat. “with Binance Card, I think I can finally go from 99% to 100% crypto,” he added.