Amid several other platform developments, popular cryptocurrency exchange, Binance has revealed its plans of issuing a debit card to its global customers. According to the official announcement, the cryptocurrency exchange operator expressed its aims for the card to be used globally while enabling its customers to spend cryptos to pay for goods and services.
The controversial cryptocurrency exchange Binance took to its official blog to announce that it had plans of issuing a debit card and that arrangements are ongoing for its imminent release.
According to the announcement,
“We’re currently releasing the Binance Card in a beta version, and we aim to make it available globally to all new and existing Binance users within the next few weeks. We will initially release the card in Malaysia, then follow with Vietnam, and add more countries as we move forward.”
The Binance Card, First Crypto Exchange Debit Card
The Binance card, as it’s likely to be known is issued by Visa and according to the official announcement, is accepted by over 46 million merchants globally and in over 200 countries. Binance users will be able to shop for their desired goods both in physical stores and online marketplaces and will be able to swipe their Binance cards to pay for their acquired commodities while paying cryptocurrencies.
Similar to a banking debit card, Binance cardholders must have a Binance account to which their cards are connected through an App. Balances on this card are directly tied to the account balance of the corresponding Binance account and completely correlated.
Also, Binance claims to have made it easy to top up the cards. The process follows a top-up of the card App via bitcoins or BNB. This automatically makes the funds available in the card App which can then be transferred to the card for shopping.
The described App is yet unavailable. Although, users can now order their physical cards through registration on a landing page. This process will lead to the acquisition of the physical card, which is later sent for a one-time payment of $15 worth of BTC or BNB.
Binance Coin Price Analysis – BNB price surges 7%
At the time of writing, Binance coin (BNB) has surged 7% of its value on the cryptocurrency market. The largest coin with the market value of $2,045,141,779 USD surged high and is now trading at $13.15 USD. Currently, the circulating of the coin is 155,536,713 BNB with a 24-hour volume of $310,192,579 USD.