The all new Binance Card was unveiled by the CEO of the exchange, Changpeng Zhao, showing how it is powered by the recently acquired Swipe as well as many other details. The CEO of the exchange just demonstrated the actual use of the Binance Card, the cryptocurrency debit card which was first announced by Binance in April 2020.
A July 10 tweet shows that the head of the exchange revealed that he is taking part in Binance Card beta testing, featuring different transactions that involve the native token of the exchange, BNB.
In the tweet, CZ noted that the beta test features “all real transactions” which include Amazon’s audio store Audible, the Uber alternative Grab, as well as a major eCommerce platform Lazada. CZ also noted that the BNB payments were completed directly from his Binance account, while merchants accepted the payment in fiat.
“Binance Card – I think I can finally go from 99% to 100% crypto,” he said CEO.
Alongside the Grab and Amazon transactions, we can see that CZ’s Binance Card transaction list also includes a transaction from Swipe, a crypto-to-fiat debit card provider which is headquartered in the Philippines and was officially acquired by the exchange on July 6.
The latest Binance news also confirm the expectations that the Binance Card will be implementing Swipe technology. When announcing the Binance Card plans in April this year, the exchange did not originally plan the Swipe integration.
However, Binance acquired Swipe on July 6, when the COO of the latter named John Khenneth told the media that the two companies “will be working closely together to launch crypto debit cards throughout various regions in the world.”
Now, Binance is pushing more adoption to its tokens including BNB each and every day. Yesterday, we saw how Tron’s BitTorrent added the Binance USD stablecoin (BUSD) as a payment option. As reported before, BNB has been already supported on the platform for payments.
All in all, the launch of this Binance debit solution is a major step for the exchange and its users, allowing everyone to take control of their crypto holdings and use them in different ways. There will certainly be more updates about this debit card in our upcoming cryptocurrency news.
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