







One of the popular cryptocurrency exchange, and also the biggest in terms of market liquidity has announced their intention to launch Binance Card. The card, which is powered by visa, will help merchants shop easily and will be accepted by 46 million outlets in 200 countries around the globe.





Binance said:





“The Binance Card does everything a regular payment card does, plus much more. It works like your regular debit card issued by your bank- which, in this case, is your binance.com account. You simply top up your card with funds through a binance card app in the form of Bitcoin or BNB and you are ready to go. It’s as simple as transfering BNB from one account to another”





“The Binance card is currently available as a virtual card in beta version, with a physical card coming out shortly”.





Indeed binance is committed to launch a world class crypto debit card that will accommodate the unbanked. My source close to Binance provided me with a site https://getbinancecard.com/ which is specifically used to advertise the new product which reads: “A Crypto Debit Card for the World”.





A visit to the website gives an insight to the features, users will enjoy using a Binance Card. The first is a prompt message for users to load their cards with any cryptocurrency of their choice, in order to be able to spend at any visa merchant worldwide.





Information available on the site indicates that the site was registered by Moon Tech Pty Ltd which is registered in Queensland Australia, and has been active since february 22, 2020. Furthermore “WHOIS” data shows the site was registered on January 22,2020.





The privacy page “https://getbinancecard.com/privacy-policy.html”of the site, listed personal information that will be required during sign up to them directly or a third party including your account. It is also unclear the launch date of the debit card as well as the various crypto-asset that will be supported in different parts of the world.





The binance card project reminds us of the connection that exists between travelbybit firm and binance which was previously announced to have received $2.5 Million in funding from Binance in 2018, for a travel backed cryptocurrency reward card. In a publication of march 12, travelbybit said that it was delaying some features of the card for the product to get to the market faster.





Binance Said:

“ With the hope of the card being widely adopted,the debit card will now be launched as a Binance Card and the best part is,you won’t need to wait any longer. From march 20, 2020 you will start the process simply by downloading the Card app from the playstore”, the post said Bianancians will be able to make purchases within their daily lives”.









A quick recall too early 2016 in a Ask me anything session with the CEO of Binance Changpeng Zhao popularly known as (CZ), when ask about Binance Debit Card by a publication transcript https://www.binance.com/en/blog/300213018722623488/Full-Transcript-Twitter-AMA-with-CZ

“He said of the topic: “ We ‘re not on a plan to offer a Binance Credit or Debit Card just yet. We’re working with other third party partners to enable those. So yeah we are looking for partners too in those areas.”





Earlier the america based crypto exchange coinbase launched a similar initiative in April 2019 in the U.K, allowing users over there to be able to use their spend cryptocurrency directly from their coinbase account. Although the debit card is not available in the U.S, it is accessible in 29 European countries. The Coinbase Debit Card supports about 10 coins including Bitcoin (BTC) Ethereum (Ether) and DAI to mention a few.





Still on debit card projects,a pioneering payment and cryptocurrency platform www.crypto.com has announced that its MCO visa card has begun shipping to customers based in the United Kingdom.