Binance launches pan-European payment card with cashback in BNB tokens

The cryptocurrency exchange Binance has announced the launch of a crypto-payment card across the European Economic Area.

#Binance Visa Card is offering the highest cashback rate anywhere!

💳 Get up to 7% cashback by holding #BNB!

Check out the full details and apply now! ⬇️https://t.co/NmL0spRAve

— Binance (@binance) September 16, 2020

Cardholders will receive up to 7% cashback on purchases. The rate will depend on the amount of native BNB tokens held on the user’s account over the past 30 days.

The exchange says there will be no subscription, maintenance or euro-transaction fees.

The Binance Card operates like a regular debit card, but it can only be funded with cryptocurrencies BTC, BNB, SXP and BUSD, including from the exchange wallet.

The Binance Card is issued in partnership with the Swipe startup, built on the Visa system. It is accepted at more than 60 million merchant locations worldwide.

Earlier this summer, Binance acquired Swipe, a company specialising in issuing cryptocurrency debit cards.

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