The long awaited and anticipated Binance debit card is here. The first sets of cards have been set in motion for delivery to customers. The CEO of Binance exchange, ChangPeng Zhao, popularly known as CZ made this known to the public while giving response to a tweep interested in the product. He said in the tweet; “This started shipping in limited quantities as of yesterday, I heard”
Unveiling of the Binance Card
The plans for the Binance card were made earlier this year around April. The debit card was to be issued by Visa and the testing was to be done in Malaysia before its launch. Like other crypto cards, the Binance debit card would allow its users to spend their crypto assets by converting them to fiat.
According to previous reports, the Binance card was to be a global project. Binance is constantly making partnerships with banking and debit card partners to make users buy crypto easily from anywhere in the world easily. Ordering the card costs $15, although the exchange promises there won’t be maintenance fees according to previous reports.
Cryptos available on the Card
The card will support four cryptocurrencies according to Binance. The cryptos are Bitcoin (BTC), Binance USD (BUSD), Swipe’s native token (SXP) and the Binance native token (BNB)
Binance revealed earlier that the card will work like a normal debit card and users won’t be required to convert crypto to fiat before necessarily making a purchase. They have the opportunity of picking from a variety of the four cryptos aforementioned to fund their Card wallet.
Crypto debit card is becoming the new normal in the crypto space of recent. Different companies have unleashed their various debit cards. Worthy of mention is that of Naijacrypto.com. BTSE, a crypto exchange launched its debit card in June, 2020.
Image from binance.com