Binance has announced the first major roll out of its debit card that allows users to pay for goods and services in crypto.
- Users in the European Economic Area (EEA) will be able to apply for a card from August, those in the U.K. will be able to do so afterwards.
- Powered by Swipe, the card allows users to spend crypto – currently bitcoin, Binance Coin, Swipe Coin, and Binance USD – at any merchant that supports Visa payments.
- First released into beta back in April, the card only converts crypto into the local fiat currency at the point of sale.
- The card was first tested in Vietnam and Malaysia.
- Binance announced last week it had acquired Swipe, which is based in the Philippines, for an undisclosed sum.
- Many existing crypto cards are prepaid and require users to top-up before using; Binance card is connected directly to a user’s wallet and works like a traditional debit card.
- Josh Goodbody, Binance’s director for European growth, commented that the Binance Card was a “critical” part of their expanded offering.
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https://www.coindesk.com/binances-crypto-card-goes-live-for-eu-uk-markets-today
