Binance Crypto Debit Card Debuts In Europe

The long awaited Binance crypto debit card known as Binance Card, is officially launched in Europe. It will support four cryptocurrencies at launch and as the news show, it is now officially debuting in the countries of the European Economic Area (EEA).

As the exchange told the crypto news media on July 14, the EEA-based users will be able to apply for a Binance Card starting from August. While the United Kingdom is expected to follow in the near future, users in other regions will be invited to “register their interest” through the Binance Card website, as the firm noted.

Swipe is currently only available in 31 countries within the EEA and some of the notable ones include Germany, Spain, Italy, France and others. What’s interesting is that Swipe is not yet available in the United States, but the firm is apparently planning to release the service soon after it completes some appropriate licensing and registrations.

For now, the Binance crypto debit card is designed to support a total of four cryptocurrencies, including Bitcoin (BTC), Swipe’s native SXP token, as well as the Binance Coin (BNB) and the Binance stablecoin, Binance USD (BUSD).

The announcement shows that the Binance Card rollout will also let users instantly convert their cryptocurrency to fiat and spend it at over 60 million merchants across 200 regions and territories. The exchange emphasized that the Binance crypto debit card will work as a normal debit card and won’t require users to manually convert their crypto to fiat before they make a purchase.

Also, the users of Binance Card will be able to recharge their card wallet using their spot wallet on Binance, but also choose the order of preference to debit their BTC, BNB, SXP and BUSD assets.

“For example, if I have 50 euros in BTC and 50 euros in BNB, if I made a transaction for 75 euros, it would be approved and then it would deduct my crypto in the order I selected,” the CEO of Swipe Joselito Lizarondo explained.

The exchange’s CEO Changpeng Zhao was also in the Binance news and said that the Binance crypto debit card will contribute to the adoption of cryptocurrencies all around the world, stating the following:

“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. Giving users the ability to convert and spend their crypto directly with merchants around the world, will make the crypt experience more seamless and applicable.”