Binance announces the launch of its debit card
Binance, one of the largest cryptocurrency exchanges in the world, just announced on March 26 that they will launch their own cryptocurrency debit card.
Binance, one of the largest cryptocurrency exchanges in the world, just announced on March 26 that they will launch their own cryptocurrency debit card. The card will be called the Binance Card and will allow its users to use cryptocurrencies that will be converted to fiat money when making purchases. The card will be issued by Visa and, for the moment, will be available only to Malaysian residents.
Initially, Binance Card users will only be able to deposit Binance Coin (BNB) and Bitcoin (BTC) to load their balance. Binance Card growth chief Josh Goodbody said: "Initially, users can deposit BNB and BTC into their Binance cards directly from their Binance.com wallet or any other wallet." Binance CEO Changpeng Zhao has stated on many occasions his vision regarding the future of cryptocurrencies and states that his intention is to revolutionize the financial system by adopting blockchain and cryptocurrencies. One step towards that revolution is the creation of your own debit card.
The transaction currency that will be available during the trial period will be the United States dollar (USD). However, Binance has already announced that, in the short term, local currencies will be available to perform the conversion.