Binance ready to debut cryptocurrency debit card in Europe

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Posted on: July 14, 2020 5:36 pm EDT

The crypto plastic will be ready for distribution starting next month

The cryptocurrency industry continues to expand and offer new services to more markets. Binance is finally ready to launch its highly-anticipated cryptocurrency debit card in the country members of the European Economic Area (EEA). According to what Binance told to Cointelegraph today, all users based in the EEA will be able to apply for a Binance card as of August. The service won’t be available for the United Kingdom yet, though the company expects to offer the service in the near future. In the meantime, interested users are invited to “register their interest” via the Binance Card website, according to the company.

Binance announced that, for now, the card will support a total of four cryptocurrencies at the time of the launch – Bitcoin (BTC), Swipe’s native SXP token, Binance’s native token BNB and the Binance USD (BUSD) stablecoin.
Therefore, users holding any of these currencies in their debit card account can immediately convert cryptos to fiat that can be used at more than 60 million merchants distributed across 200 different locations. The company clarified that the card would make the conversions automatically, so the user doesn’t even have to think in manually converting their crypto assets to fiat before making a purchase.

In order to load money onto the card, users will be able to recharge the card wallet straight from the spot wallet on Binance. Also, the platform allows the user to choose the order in which he or she prefers the virtual currencies to be debited. “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 crypt experience more seamless and applicable,” said Binance CEO Changpeng Zhao.