Binance, the Malta-based cryptocurrency exchange unveiled its plans for a digital currency debit card back in April of this year. According to the recent updates, the exchange has now begun to ship its debit cards to customers in limited quantities after months of planning to carve a niche in the card payment sector.
Using the card, the holders of the crypto will be able to pay bills through Bitcoin or any other coin. Users would no longer have to exchange their cryptocurrencies on exchanges in order to make payments and the main benefits are; they can also use HODL while spending their digital assets.
A previous report on the Binance card indicates an acid test for the issuance of the debit card in European regions. It was initially not clear what provider Binance was going to partner with for 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. According to the Exchange’s official blog, the Binance Card would be acceptable to 46 million merchants spread through both online and offline platforms in more than 200 regions.
Binance Debit Card Will Support Bitcoin and BNB
Binance CEO CZ revealed that the payment option had been tested, saying that the company had already started the project trial. By mid-July, the exchange revealed 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.
Nonetheless, yesterday, CZ announced that the shipping was already in progress. He said : “This started shipping in limited quantities as of yesterday, I heard”
The Exchange’s blog states that 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.