13 August 2020
The leading cryptocurrency exchange Binance that shares cryptocurrency trading prices live had revealed its plan for a digital currency debit card back in April of this year. As per the latest updates, Binance has started to deliver its debit cards to customers in limited quantities after months of planning to carve a niche in the card payment sector.
The card will enable the crypto users to pay bills through Bitcoin or any other coin. The users no more need to exchange their cryptocurrencies on exchanges to make payments. One of the plus points is that they can also use HODL while spending their digital assets.
Initially, Binance conducted an acid test for the issuance of the debit card in European regions. Binance had not revealed the provider of the debit card but in July the company made it clear that it was going to acquire the Swipe Technology-a crypto-debit card project. The Exchange’s official blog states the Binance Card would be acceptable to 46 million merchants spread through both online and offline platforms in more than 200 regions.
Binance CEO CZ shared that the payment option had been tested, saying that the company had already started the project trial. In mid of July Binance disclose plans ahead of August ‘s launch and noted the card ‘s compatibility with at least four digital assets, including Binance’s BNB asset and Bitcoin. Nonetheless, the exchange had previously emphasized the beta version of its debit card and stated on the official blog that it was indeed a physical card.
Binance CEO CZ announced that the shipping has started in limited quantities. As per the Binance blog post, one must register an interest in the Binance Card on the Exchange’s landing page and receive a notification once the card is available in their region.