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Crypto exchange Binance adds SGD, PHP and more fiat currencies

Image by Binance from Twitter

Wed, 01 Apr 2020, 00:40 am UTC

Crypto exchange Binance added more fiat currencies to buy crypto with Visa credit and debit cards without international currency conversion fees.

In its recent announcement, Binance revealed that it added Israeli Shekel (ILS), Argentine Peso (ARS), Malaysian Ringgit (MYR), New Taiwan Dollar (TWD), Swiss Franc (CHF), Singapore Dollar (SGD) and the Philippine Peso (PHP).

The cryptocurrencies available for direct purchase with the said currencies include Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), BNB, Binance USD (BUSD) and Tether (USDT).

To use the service, users can go to the Buy Crypto page and select “Pay with Credit/Debit Card.”

Binance announced the launch of Binance Card last week. The exchange takes pride in its Visa card because it does more than regular payment cards do.

“The Binance Card does everything a regular payment card does, plus much more. It works like a regular debit card issued by your bank – which, in this case, is your Binance.com account. You simply top-up your card with funds through the Binance Card App in the form of Bitcoin or BNB, and you’re ready to go. It’s as simple as transferring BNB from one wallet to another,” Binance announced.

Binance Card is issued by Visa and is accepted by over 46 million merchants offline and online in 200 regions and territories making it easier to shop and pay with crypto. It can be used to buy gifts, shop for groceries and pay bills online.

The Binance Card is currently available as a virtual card in a Beta version. A physical card is coming soon. Binance will make an initial release in Malaysia and it promises to add more countries as it goes along because Binance wants to make it available worldwide.

Users can order Binance Card for a one-time cost of $15, which is payable in the form of an initial top-up from the crypto wallet to the Binance Card balance. Binance users can transfer $15 worth of BNB or BTC to the card balance and Binance will process the order. Binance doesn’t charge any monthly or annual fees.

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