People who would like to use cryptocurrencies on a regular basis will be pleased to hear that Binance Card is officially debuting in countries in the European Economic Area (EEA). Customers will be able to apply for this highly-anticipated cryptocurrency debit card starting in August.
Users who live in the United Kingdom will also be able to apply for this card in the near future. At the moment, Swipe is available in 31 countries within the European Economic Area, such as France, Italy, and others.
Currently, Swipe is not available in the United States. However, the firm plans to release the service in the near future, after completing appropriate licensing and registrations.
Binance and its crypto debit card
It is worth noting that, in the beginning, Binance Card will support four cryptocurrencies. This includes the biggest cryptocurrency in terms of market capitalization. Moreover, apart from the Bitcoin, Binance Card will support Swipe’s Native SXP token as well as Binance’s native token BNB and stablecoin Binance USD (BUSD).
Based on the information taken from the announcement, the Binance Card rollout will allow customers to instantly convert cryptocurrencies to fiat currencies. They will be able to spend them across 200 regions and territories. Interestingly, more than 60 million merchants will accept this crypto debit card.
It is quite simple to use this card. Binance Card will basically work like a traditional debit card. Moreover, Binance Card will not require users to manually convert crypto to fiat before making a purchase.
Furthermore, owners of this card will be able to recharge their card wallet directly from their spot wallet on Binance. They can also choose the order of preference to debit their BNB, SXP, BTC as well as BUSD assets.
Thanks to Binance Card, it will be easier to make cryptocurrencies more popular not only in Europe but around the world.