Binance Launches Prepaid Mastercard Cryptocurrency Card
In a significant move, Binance has introduced its prepaid Mastercard cryptocurrency card in several nations within the Commonwealth of Independent States (CIS), including Armenia. This rollout was confirmed by Anka Tsintsadze, the marketing lead for the cryptocurrency exchange. As the leading global platform in trading volume, Binance aims to make crypto transactions more accessible by enabling users to convert various cryptocurrencies—including Bitcoin and Ethereum—into local fiat currencies instantaneously at the point of sale.
Card Features and Funding Options
The Binance card can be used for both online and offline payments wherever Mastercard is accepted. Users who possess this card can also earn cashback rewards of up to 2% on eligible purchases each month. Funding options for the card include the use of credit or debit facilities in U.S. dollars via platforms such as Apple Pay and Google Pay. Additionally, users in Kazakhstan can top up their cards in tenge through local banks, while customers in Uzbekistan can utilize the Humo card network to deposit Uzbek som.
Obtaining the Binance Mastercard
For individuals looking to obtain a Binance Mastercard, it is mandatory first to have an account with a provider that issues such payment cards, including digital currencies or crypto exchanges. The issuance is contingent upon completing identity verification and anti-money laundering checks—standard procedures associated with financial institutions.
Expansion and Promotions
Aside from this launch, Binance has been expanding its reach. Previously, it introduced its card services to numerous European countries, including Denmark, France, Germany, and Spain, thereby enhancing its operational footprint beyond the European Economic Area to the CIS markets.
To celebrate the card’s introduction, Binance has also kicked off a Valentine-themed promotional initiative consisting of a reward pool that lasts for about a month or until all rewards are claimed. Participants have the opportunity to earn crypto rewards by engaging in activities within the Binance ecosystem, such as referring friends and trading.
Precautionary Alerts on Romance Scams
However, amidst these new offerings, U.S. authorities have issued a precautionary alert regarding romance scams that commonly proliferate around Valentine’s Day. The Northern District of Ohio’s U.S. Attorney’s Office has emphasized the heightened risk of scammers exploiting online dating platforms during this romantic season. Individuals are urged to remain vigilant about potential signs of fraud—such as requests to shift communications to less secure platforms, express love prematurely, or request payment through unconventional means.
Attorney David Toepfer highlighted the importance of not sending money to anyone met only online, especially to safeguard vulnerable populations, including the elderly.
