The world’s largest exchange, Binance, has officially announced that its cryptocurrency debit card is now available in Europe.
According to a Sept. 15 blog post, the Binance Visa Card is now available to everyone in the European Economic Area, or EEA, countries.
To celebrate the launch in Europe, Binance is offering up to 7% cashback from purchases with the card. According to the firm, this is the highest cashback rate available in the market to date.
Binance noted that Binance Visa Card converts user crypto funds into a local currency automatically, allowing them to spend crypto like Bitcoin (BTC) at 60 million locations around the world.
Since announcing its plans for Binance Visa Card in April 2020, Binance has been aggressively pushing the new product. The Binance card officially debuted in Europe in July 2020, with the firm claiming that EEA-based users will be able to apply for a card in August. As the Binance card is powered by Binance-owned crypto debit provider, Swipe, the new product might soon enter the United States.
In early September, Binance’s head of operations for Russia and the CIS told Cointelegraph that Binance Card is still on its way to Russia despite the country’s upcoming crypto payment ban.