Competition with Crypto.com: Binance allegedly shortly before the launch of its own crypto credit card “Binance Card”

Binance is one of the largest and best-known exchanges for trading cryptocurrencies worldwide. But the stock exchange has long been more than just a platform for digital assets. CEO Changpeng Zhao's company is constantly presenting new features, products and investments in other companies. Now your own crypto credit card will soon be launched.

Binance Card as the Exchange's own credit card

Binance is regularly expanding its business area. The exchange not only continuously announces new features for the exchange and investments in other companies, but also develops completely new products. The stock exchange announced in April 2020 knownto work on their own crypto credit card. The Binance Card is intended to enable customers to use their card to pay with cryptocurrencies worldwide.

The Binance Card is directly connected to the customer's Binance account. The crypto credit card can be charged with Bitcoin (BTC) or the in-house cryptocurrency from the Binance Coin (BNB) exchange. The card is then used to pay as with conventional credit cards.

Binance said the card is accepted by more than 46 million sellers in 200 regions for offline and online payments. Customers pay a $ 15 USD fee for the initial Binance Card order.

Binance before partial takeover of payment platform

The Binance Card is currently available as a virtual card for testing. But that could change soon, as the news agency theblock.com reports today. Accordingly, Binance is about to make a large investment in the blockchain payment platform Swipe.io. do. The company not only offers a wallet for storing digital assets, but also a crypto Visa credit card.

The partial takeover could be released this week and should be a big step for the final release of the crypto credit cards. An official statement from both companies is still missing. On the Binance website for the Binance Card there is still a note that the card will be available "soon".

With the range of crypto credit cards, Binance is entering a highly competitive market. Crypto.com, one of the largest providers in this area, has been offering its credit cards since 2018 and has recently become available in 31 European countries in addition to the USA and Japan:

Crypto.com crypto credit card now available in Europe!

Markus from Kryptokumpel.de
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