Binance has announced extended support for cryptocurrencies on the Binance Card. The card will now support three new cryptocurrencies, namely Ripple (XRP), Shiba Inu (SHIB), and Avalanche (AVAX).
Binance card supports AVAX, SHIB, and XRP
The Binance Card is a tool that allows the holders of different cryptocurrencies to convert and spend their cryptocurrency holdings in more than 60 million online and physical stores. However, this card is only available in Europe and the Ukrainian refugees.
Before the invasion of Ukraine by Russia earlier this year, Binance had planned to expand the card’s reach into Ukraine before the end of the year. However, after this invasion, there is no clear indication whether Binance will still pursue its plan to extend the card’s use into Ukraine.
The Binance card now supports 14 cryptocurrencies after the latest addition of these three tokens. The supported cryptocurrencies include Bitcoin (BTC), Ether (ETH), Tether (USDTY), BNB, Cardano (ADA), Polkadot (DOT), Avalanche (AVAX), Shiba Inu (SHIB), FC Porto Fan Token (PORTO), S.S. Lazio Fan Token (LAZIO), Santos FC Fan Token (SANTOS) and Swipe (SXP).
Adding these new cryptocurrencies will not impact the current payment preferences of those who have already started using the card. The Binance Card has received adoption due to the convenience offered to users who want a convenient way of using their crypto as a means of payment.
Binance partners with Mastercard
The latest addition of these three new cryptocurrencies into Binance Card comes after Binance unveiled a partnership with Mastercard. The partnership will allow Binance to bring its prepaid cards into Argentina.
Binance and Mastercard will work together to increase the payment options available to Binance users in Argentina. Argentinian clients will have a chance to use Bitcoin, BNB, and other cryptocurrencies to buy and withdraw on all platforms where Mastercard is launched.
At the beginning of the year, Wirex announced the addition of AVAX to its list of supported cryptocurrencies within its crypto card. Wirex is a platform that gives users a chance to pay using 61 different digital assets, including fiat and crypto.
Binance is not the only crypto firm to partner with Binance. Nexo also announced a partnership with Mastercard in 2019. The partnership is fruitful after Nexo launched a crypto card available to residents in several European countries.
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This article was written for Business 2 Community by Ali Raza.
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