Cryptocurrency exchange Binance has introduced Binance Card to allow users to shop using cryptocurrencies.
The Binance Card works like a regular payment or debit card issued by the bank.
To use the card, users first need to top-up their card by transferring funds through the Binance Card App in the form of Bitcoin or BNB. The app allows users to manage their funds, card security, and spending with only a few taps. Users can use and control the new card within the interface of one app.
Binance has chosen Visa as its card issuer and the new card is accepted by over 46 million merchants online and offline across 200 regions and territories.
The card users can buy gifts, shop for groceries, and pay internet bill online using the Binance Card. The card also eliminates the need to sell the cryptocurrency to pay bills.
The Binance Card is currently available as a virtual card in a beta version.
The company said in a release that a physical card will be launched in the next few weeks, first in Malaysia than in Vietnam and other countries for new and existing customers.
Customers can order the card for a one-time cost of $15, payable in the form of initial top-up from the crypto wallet to the Binance Card balance.