Binance has announced that it has added Ripple (XRP) to the list of supported cryptocurrencies on the Binance Card.
— Binance (@binance) August 5, 2022
According to the world’s largest cryptocurrency exchange by 24 hours trading volume, the initiative will commence today at 07:00 (UTC).
With the addition of XRP support on the Binance Card, Binance now supports a total of 14 cryptocurrencies, including Shiba Inu (SHIB), Cardano (ADA), etc.
Binance Card is a payment solution launched by Binance, allowing cryptocurrency users to spend their crypto assets with merchants across various parts of the world. The payment solution supports real-time crypto-to-fiat conversion.
A Binance card is linked to a user’s Binance account. It is a Visa debit card that allows users to spend crypto anywhere that Visa is accepted. The card had to be pre-loaded with crypto before using it as it is a regular debit card.
Following the announcement, Binance Card users can now use the sixth-largest cryptocurrency by market capitalization to make payments.
“To spend the newly supported cryptocurrencies with Binance Card, please go to Card Dashboard > Payment Priority > Edit to add, remove or rank cryptocurrencies for spending according to your preference,” Binance said in a statement.
The development comes at a time when Ripple is currently facing security charges in the United States.
According to Binance, there are a few rules to be adhered to by Binance Card users. At the moment, Binance Card is only available to users in EEA (European Economic Area) countries as well as Ukrainian refugees living in those countries. Also, users must have six priority tokens on their Binance Card, with the max number being 12 token choices.