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December 15, 2020 - Binance, the world's foremost cryptocurrency exchange, has announced that is has started shipment of its physical Visa Cards to customers in EEA (European Economic Area) region. In an official announcement, the company added that Ether payments would also be available on the Binance Visa Card. As per the statement, customers who have already ordered their card can finalise the delivery process in their card wallet.
Officially announced in April 2020, now the Binance physical crypto debit card for the EEA region will include Ether (ETH) support, allowing clients to make purchases and execute payments via one of the most widely held altcoins.
"From now on, you can buy the things you love with Ethereum. Simply transfer Ethereum to your Card wallet and drag it above the other coins to make it the preferred payment asset", reads the announcement.
Additional info on the new Binance Visa Card highlights a daily spending limit of 8,700 euros ($10,600) and daily withdrawals to up 290 euros or $350. Cards also feature up to 8% cashback and zero fees until 2021.The latest development from Binance is another sign of broadening cryptocurrency adoption.
Earlier this year, February 2020, Binance announced that it will allow users to bind their Visa Cards and purchase BTC, ETH, BNB, and XRP with Russian Ruble (RUB). The P2P support for Russia's official fiat currency would allow traders to buy cryptocurrencies in a fast and easy manner, without the need to enter another venue.
Earlier this month, Binance CEO Changpeng Zhao and MicroStrategy CEO Michael Saylor met via online chat to discuss the future of digital assets. During the conversation, they pointed out the major financial events of 2020, including upcoming inflation with Bitcoin being the "ultimate safe haven and store of value," the connection between gold and Bitcoin, and institutional investors starting to view Bitcoin as an investable asset.
"We did it, you saw Square do it. I also hear institutions, like pension funds and unions, endowments are becoming more interested in buying Bitcoin", Saylor added. He noted life-insurance company MassMutual's recent $100 million investment in Bitcoin as proof of the institutional interest in the prime digital asset and cryptocurrency adoption.
