Binance aims to capture European markets, launches Binance Card.

Binance aims at gaining a larger market share in the European markets, launches debit cards to make crypto accessible across 200 territories worldwide.

By · Jul 14, 2020 . 5min read

On July 7th, 2020 Binance acquired Swipe, a multi-asset digital applications that enables users to buy and sell cryptocurrencies through debit cards, credit cards or bank transfers. After about a week, Binance launches it’s Binance card in the European and UK markets. This will enable users to convert their Bitcoin (BTC), BNB ( Binance Coin), Swipe’s Native token (SXP) along with it’s stablecoin and Binance USD(BUSD) across 200 regions and territories worldwide. This crypto debit card will be acccessible at over 60 million merchants worldwide.

Official Announcements from Binance

In the official blogpost it is said that the Binance Card will work more like a traditional debit cards. The users will not have to convert their cryptocurrencies to fiat in order to top up the card. Hence this will make the process hassle-free thus encouraging mass adoption. Binance aims to make cryptocurrency accessible to everyone and hence is constantly working towards a open digital financial ecosystem .

CEO Changpeng Zhao also tweeted about the advancements taking place on his Twiiter handle. The following were:

I am so excited. I love beta testing products… All real transactions. Audible/Amzn, Grab (Uber replacement), Lazada (Amzn replacement). Merchants accepts fiat, I paid in #BNB, direct from my Binance account. #Binance Card – I think I can finally go from 99% to 100% crypto.

Binance CEO Changpeng Zhao (CZ) tweeted

“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 crypto experience more seamless and applicable,”

Binance CEO Changpeng Zhao (CZ)

Binance is looking forward to make this card accessible in other regions too. It also wants to introduce new features into it through it’s partnership with Swipe. It wants users to utilize crypto in their day to day life.

However the users in the European Economic Area(EEA) will be able to apply for the Binance Card in August,shortly followed by users in UK .

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