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Binance is rolling out a new product that will allow crypto users to use digital assets to buy goods and services without needing to locate merchants that accept Bitcoin (BTC) and without having to exchange their cryptocurrencies into fiat.
In a press release, the leading global crypto exchange reveals the release of its own Visa-powered payment card which will be accepted by more than 46 million merchants worldwide.
Binance says users can fund the new Binance Card with Bitcoin or BNB token using the Binance Card App. Just like a regular debit card, the Binance Card automatically uses the balance on the card to settle payments.
The card costs $15. To pay, users have to transfer the equivalent amount in BNB or BTC from their crypto wallet to the card’s balance. Binance will then process the order. The firm says it will not charge any monthly or annual fees.
The card is currently available in beta as a virtual card only. A physical card, due to roll out soon, will initially be released to the global exchange’s users in Malaysia and Vietnam.
The company plans to introduce the card to all of its users around the world within the next few weeks.
“You can register interest in Binance Card through the landing page, and we will notify you once the card becomes available in your region.”
Binance reports that it has over 15,000,000 users worldwide.
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