Binance targets more European users with its 7% cashback Visa Card launch

Binance Visa Card launch
Updated: 21 Dec, 2020
2 mins read

The Binance Visa Card is now available across the entire European Economic Area (EEA), as per Binance’s statement shared a few hours ago. The card is directly linked to users’ Binance accounts and it comes on different levels. 

According to Binance, users can use the card to spend digital assets in their Binance accounts to conduct transactions globally in over 60 million Visa locations. The card can also be linked with Google Pay and Samsung Pay. Users will have the option of acquiring physical or virtual cards. 

Binance, the world’s largest cryptocurrency exchange partnered with Swipe in coming up with the card that operates like the traditional debit card but only transacts in cryptocurrencies. Users can top up with funds stored in the Spot Wallet. 

Binance Visa card 7% cashback

Currently, users will not incur any costs while transacting using the Binance Visa Card. Additionally, the card does not carry subscription or maintenance fees, and transactions in Euros are free. Furthermore, all purchases made through the Binance Visa Card will attract up to 7% cashback.

Binance claims that this is the highest cashback rate available in the market to date. Incentives like the huge cashback might help grow Binance users across Europe. 

Binance announced plans to roll out the card back in April and it has been pushing it aggressively in various regions. With the European debut for the card, the product might soon enter the United States. However, Binance has also announced plans to introduce the card in Russia are on course despite the country’s impending cryptocurrency payments ban.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.