Binance enters the crypto debit card sector with news of an official Binance Card on March 26. Issued by Visa, the card will initially be available in South East Asia, though other regions will be unlocked soon, the company states. Like most other crypto cards, the Binance Card allows its users to spend their cryptocurrencies by converting them into fiat and piggy-backing off established debit card networks. A fairly unique aspect of the Binance Card is that its internal balance will be in cryptocurrencies, initially Binance Coin (BNB) and Bitcoin (BTC). As Josh Goodbody, head of growth at Binance Card, …

Canadian cryptocurrency payments provider, NetCents, has completed the technical integration of its consumer credit card into its proprietary ecosystem. NetCents announced March 20 that it had begun edge-case scenario testing in real-world environments in order to ready the card for launch. Not like other crypto credit cards The NetCents credit card promises users will not have to pre-load cryptocurrency onto their cards, differing from otherwise-similar products already on the market. Cards which require pre-loading can sometimes rob users of crypto value appreciation they would have otherwise received in the interim between loading and spending their coins. The NetCents card is …

Coinbase Card users owning supported Android phones can now avoid using the physical card. Through an integration with Google Pay announced on March 17, the card can be emulated by a mobile phone. The Coinbase Card connects a holder’s cryptocurrency balance on the exchange, which is then used for spending crypto via an instant conversion to fiat. The card can only be issued to residents of the European Union and European Economic Area, as well as the United Kingdom. Once issued, the card can be used anywhere Visa is supported. Google Pay emulates the physical card for offline purchases by …

If government corruption affects the stability of the national currency, it’s only natural that citizens will turn to gold or other assets like Bitcoin (BTC) to invest their savings. It offers them a sense of financial control in an otherwise unstable market. And it’s not just investing that is feeling the impact of crypto. This technology has the capacity to change the way we live. The freedom to travel and transact is a fundamental right everyone should have, and cryptocurrency adoption is all about providing freedom. Related: What Does Mass Adoption Mean Relating to Crypto? Experts Answer Navigate The world …

On Feb. 19, Coinbase announced that it has become a principal member of Visa. In an apparent first for the cryptocurrency industry, the firm is now able to issue debit cards without having to involve third parties. Prior to that, Coinbase had been releasing its physical cards in collaboration with authorized intermediaries, similarly to dozens of other crypto companies that offer such options to their clients. While Coinbase didn’t share its strategy, technically, the new status grants it the possibility to issue cards to fellow cryptocurrency firms. In any case, this development marks an important milestone for the crypto payments …

Cooperation between fiat currency card issuers and the blockchain industry appears to be proceeding apace. On Feb. 24, sports fan token project Socios announced the launch of an integrated membership and fiat-crypto prepaid debit card, which also provides blockchain-based global ID functionality. Ahead of the product’s launch, Socios says it is continuing to review several crypto and non-crypto partners before determining who the card issuer will be. Speaking to Cointelegraph, Socios CEO Alexandre Dreyfus said the firm had previously been contacted by and been engaging with partner firms of Visa and MasterCard. Live debit card planned for summer As previously …

Coinbase is now a principal member of Visa, according to a Feb. 19 announcement. This will allow it to issue debit cards without relying on third parties. The membership is an evolution of Coinbase’s current relationship with Visa, with the cryptocurrency exchange providing a Visa-based debit card. Called Coinbase Card, it allows customers residing in the European Union or European Community to spend multiple cryptocurrencies. While the card itself can function globally, it cannot be ordered by people residing outside of the supported areas. Coinbase reports that the card is seeing the most usage in the United Kingdom, followed by …

Bitcoin (BTC) is already processing 1% of the world’s GDP and the number is growing by “an order of magnitude” every halving cycle. According to statistician Willy Woo, who analyzed data from monitoring resource Coin Metrics, Bitcoin’s investment flow is $727 billion annually. BTC processes $727B per year The number is almost 10% of payment processor Visa’s transaction volumes each year — Visa processes $8.8 trillion in transactions. “Bitcoin's investment flow (aka annual investment velocity) is presently growing an order of magnitude (10x) every 4 years,” Woo summarized. Per the statistics, Bitcoin should “catch up” with Visa at some point …

Cryptocurrency businesses worldwide are continuing to integrate fiat onramps into their operations in an effort to make it easier for customers to jump into crypto. United Kingdom-based cryptocurrency lending startup Celsius Network has launched in-app crypto purchases via a new partnership with Simplex, according to a Feb. 18 announcement. Simplex, a popular fiat-to-crypto payments provider servicing major crypto exchanges like Binance, will now unlock direct crypto purchases for Celsius app users. Celsius clients will now be able to buy cryptocurrencies like Bitcoin (BTC) and Ether (ETH) via credit or debit cards. Similar to other Simplex-powered fiat onramps, the new feature …

Remittances giant MoneyGram announced a new service allowing real-time money sending, but the solutions of its blockchain partner Ripple are not involved. MoneyGram recently announced FastSend, a new service that allows its customers to send money in real-time to a phone number via a dedicated website or mobile application. Still, the firm’s answers to Cointelegraph’s inquiries revealed that surprisingly MoneyGram’s latest product does not make use of Ripple’s technology. You don’t need blockchain for real-time settlements Kamila Chytil, MoneyGram Chief Operating Officer explained to Cointelegraph that FastSend uses Visa’s Direct Original Credit Transaction to deliver funds to bank accounts through …

Payments behemoth Visa is reportedly planning to change merchant fees rates for United States-based merchants as part of a major update of its point-of-sale system. The development was revealed in a document Visa sent to banks announcing an upgrade of its system, which will be rolled out in April and October, Bloomberg reported on Feb. 4. With the move, the payments giant aims to push merchants to stop using checks, as well as adjust its new fee structure for new businesses. What to expect? Visa is reportedly planning to introduce higher rates for transactions on e-commerce platforms and lower rates …

Cross-border payments platform Currencycloud has raised $80 million in funding from SBI Group, Visa and other investors. Per a Jan. 27 press release, London-based Currencycloud secured $80 million from SBI Group, Visa, International Finance Corporation, BNP Paribas and Siam Commercial Bank. Following the investment, Colleen Ostrowski, senior vice president and treasurer of Visa Inc, will join the board of Currencycloud. By its own account, the startup — which provides embedded B2B cross-border payments — is going to allocate the raised funds for its further growth, expansion of its portfolio of emerging payment methods and development of its partner ecosystem. Currencycloud …