Binance Plans to Launch Its Crypto-Linked Debit Card, Binance Card, in Georgia

Binance, the world's largest crypto exchange, is planning to launch its crypto-linked debit card, Binance Card, in Georgia, according to an interview with Gleb Kostarev, the regional director of Binance, for BEMJ. The release of the card in Georgia is expected to take 1-2 years.

Unlike traditional debit cards linked to bank accounts, Binance Card is connected to a user's crypto wallet. Therefore, when a user pays with Binance Card, the transaction is deducted from their crypto account but completed in Georgian lari, not in cryptocurrency. This means users no longer need to cash out their crypto and deposit it into a bank account to make purchases.

Binance Card was launched in 2020 and is currently available in the European Economic Area (EEA) and Latin America (LATAM). The card supports 14 cryptocurrencies, including Bitcoin, Tether, BNB, BUSD, and XRP. The introduction of Binance Card in Georgia would provide users with a new and convenient way to spend their cryptocurrency. It would also promote the use and adoption of cryptocurrencies in the country.