Wednesday, April 14, 2021
Home Crypto News Market Binance Starts Shipping Binance Visa Cards To Europe

Binance Starts Shipping Binance Visa Cards To Europe

- Advertisement -

Binance cryptocurrency exchange announced the start of delivery of the Binance Visa Card to the European Economic Area (EEA) and announced support for Ethereum on Binance Debit cards.

Eurozone users will start receiving their cards soon, according to Binance’s announcement. To get Binance visa cards, they need to complete the ordering procedure. The spending limit for Binance Visa Card is € 8,700, and no more than € 290 can be withdrawn from ATMs per day.

Card users will get up to 8% cashback, and zero commission until 2021. Also, Binance announced support for ETH, customers can use Ethereum to pay for purchases, and optionally, can specify ETH as their preferred payment method. Previously, the card supported BTC, BNB, SXP and BUSD.

The Binance cryptocurrency debit card first came in March 2020. A month later, Binance CEO Changpeng Zhao announced possible legal complications, as the card must comply with regulatory requirements in each country. In September, the head of the Binance operations department in Russia and the CIS countries, Gleb Kostarev, announced his readiness to launch the Binance Card debit card in Russia.

Earlier, there were concerns that this would be impossible due to the Law “On Digital Financial Assets (DFA) and Digital Currency”, which prohibits paying with cryptocurrencies in Russia.

However, recently Binance exchange became a member of the Committee on Digital Financial Assets (DFA) and Digital Currency in Russia. This committee was created for the development of legal cryptocurrency business and its regulation in the country.

Other exchanges have also launched their debit cards that allow users to pay for items with cryptocurrencies. A similar card was introduced by P2P platform Paxful in Mexico and the USA. Coinbase also announced the release of the Coinbase Card in the United States with cashback in XLM or BTC.

Top Crypto Exchanges

Visit Phemex

 

- Advertisement -
Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Binance List the Coinbase Stock Token (COIN)

Binance will list the Coinbase Stock Token (COIN) on 2021-04-14 (UTC), during which the COIN/BUSD trading pair will be open. Users will be able...

6 Blockchain Business Use Cases You Should Know

The potential of the distributed ledger technology (DLT) — an umbrella term of which blockchain is the most popular kind — is enormous. Businesses...

Europe’s Largest Digital Asset Investment Firm CoinShares Launches XRP Exchange Traded Product (ETP)

CoinShares, a major British cryptocurrency investment company, has announced it plans to list XRP (Ripple) exchange-traded fund (ETP) on the SIX Swiss Exchange. This ETP...

Coinbase Stock Hits The Market And Gets Reference Stock Price of $250 from Nasdaq

Nasdaq has released the figures for the reference stock price of Coinbase, the largest cryptocurrency exchange in the United States, which is scheduled to...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly