Binance has announced that its Visa Card will be available to all eligible users in the EEA (European Economic Area).
The EEA is the common European market area of the European Union, but also includes non-EU countries such as Iceland, Liechtenstein and Norway.
It comprises a total of 30 countries, excluding, for example, Switzerland and Russia.
To celebrate this launch, Binance will offer users of its Visa Card a cashback of up to 7%. However, this percentage will vary depending on the level of the card held by the user, which in turn is based on the amount of BNB staked on any one of the Binance.com wallets.
All Binance users residing in the EEA can apply for the Binance Visa Card, and will also receive zero transaction, maintenance or subscription fees, as well as zero fees on payment transactions made in Euros.
How does the Binance Visa Card work
The Binance card is powered by the Swipe platform, allowing digital assets to remain in their native form until the final fiat currency transaction occurs.
Swipe is a multi-asset digital wallet, as well as a debit card platform designed to allow users to buy, sell and spend their own cryptocurrencies. It is based in the Philippines and has offices in the UK to provide services to European users.
This debit card supports NFC payment apps, including Google Pay and Samsung Pay, offering various ways to convert and spend Bitcoin, Binance Coin, Swipe and Binance USD throughout much of the world.
Users can top up their card wallet directly from their spot wallet on the Binance exchange, and choose which order to charge their assets (BTC, BNB, SXP and BUSD).
The Director of European Growth at Binance, Josh Goodbody, said:
“We are thrilled at the positive response we’ve received from the first adopters of our Binance Visa Card. Through introducing new features such as the NFC payment support and making the card available in more regions, the Binance Visa Card will help us further our mission of making crypto accessible to the masses”.