Binance’s highly anticipated crypto debit card, The Binance Card is officially available in the countries of the European Economic Area (EEA).
Binance informed Cointelegraph of this on July 14th EEA users can apply for a Binance card from August. While Britain will follow in the near future, Users from other regions are invited to register their interest on the Binance Card websitethe company said.
As previously reportedSwipe is currently available in 31 EEA countries, including Germany, Spain, France and Italy. Swipe is not yet available in the U.S., but the company is reportedly planning to launch the service soon after licensing and registration is complete.
Four cryptocurrencies are available to start with
According to the announcement, The Binance Card supports a total of four cryptocurrencies at the start. These include cryptocurrencies Bitcoin (BTC), Swipes native token SXP as well as Binance’s native token BNB and stablecoin Binance USD (BUSD).
According to the announcement, With the introduction of the Binance Card, users can instantly convert cryptocurrencies to Fiat and spend them on more than 60 million merchants in 200 regions and territories.
Binance emphasized that The Binance Card basically works like a conventional debit card and does not require users to manually convert cryptocurrencies to Fiat before buying.
Binance card users can load their wallet directly from their wallet in Binanceas well as choosing the order of preference for encumbering your BTC, BNB, SXP and BUSD assets.
Swipes CEO, Joselito Lizarondo said: “For example, if I have 50 euros in BTC and 50 euros in BNB and I make a transaction for 75 euros, it will be approved and my cryptocurrencies will be deducted in the order I chose. ”
The platform With Swipe, users can save their cryptocurrencies in their card wallet and only convert them into fiat currencies during a transaction.
Changpeng Zhao, CEO of Binance, said that The Binance Card will make a significant contribution to the worldwide introduction of cryptocurrencies::
“By providing a specific form of transaction, conversion and issuance of cryptocurrencies for everyday use, we are driving our mission to make cryptocurrencies more accessible to the masses. By giving users the ability to convert and spend their cryptocurrencies directly to merchants around the world, the crypto experience becomes more fluid and applicable. “
Last week, Zhao demonstrated the first Binance Card transactions and officially confirmed that the Binance Card is operated by Swipe. Binance acquired Swipe earlier this month, making it the second acquisition this year.
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