Cryptocurrency exchange Binance is planning to launch its own debit card Binance Card in European Economic Area (EEA) and the United Kingdom next month.
According to an official announcement, the exchange's users will be able to convert and spend bitcoin (EXANTE: Bitcoin), binance coin (BNB), swipe (SXP), and binance usd (BUSD) to fiat at over 60 million merchants across 200 regions and territories worldwide.
Binance CEO Changpeng Zhao (CZ) says the exchange is looking forward to making the Binance Card available to users in other regions, as well as introducing new features to enhance the Binance Card experience through our partnership with Swipe.
"By providing a tangible way to transact, convert, and spend crypto for everyday use, we are furthering our mission of making crypto more accessible to the masses," CZ added.
Initially, Binance Card users will be able to top up their card directly from their Binance Spot Wallet and choose which order of preference to debit their BTC, BNB, SXP, and BUSD assets.
Starting from August, the exchange's users based in the EEA will be able to apply for a Binance Card, with users in the UK following shortly thereafter, the announcement states.
In June, Binance purchased a big stake in a cryptocurrency wallet app & a crypto-to-fiat funded Visa debit card service called Swipe.io.
The deal was reportedly focused on simplifying the exchange's plan for its own payments card.
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