Binance has announced that it has added Ripple (XRP) to the list of cryptocurrencies supported on Binance Card. Apart from that, Binance Card now supports Shiba Inu (SHIB). Here are the latest developments announced by the stock market…
Shiba Inu, Ripple came to Binance Card
With the addition of XRP support to Binance Card, Binance now supports Shiba Inu (SHIB), Cardano (ADA) etc. It supports a total of 14 cryptocurrencies, including Binance Card is a payment solution launched by Binance that allows cryptocurrency users to spend their crypto assets with traders around the world. The payment solution supports real-time crypto-fiat conversion.
#Binance Card has added $XRP, $SHIB and $AVAX to the list of supported cryptocurrencies.
Find out more ➡️ https://t.co/NF53ujOceN pic.twitter.com/xLmuUrB9N8
— Binance (@binance) August 5, 2022
The Binance card is linked to a user’s Binance account. It is a Visa debit card that allows users to spend cryptocurrency wherever Visa is accepted. As it is a regular debit card, it needs to be preloaded with crypto before using the card. Following the announcement, Binance Card users can now use the sixth largest cryptocurrency by market cap to make payments.
SHIB community excited with Binance listing
Namely, it has announced that it will add XRP and SHIB to the list of supported tokens on Binance Card. Following the announcement, the SHIB community seemed excited. SHIB’s official Twitter account immediately announced the good news. Binance Card will be available to SHIB fans and users in Europe. With this new provision, SHIB users can now transact with tokens at more than 60 million merchant locations worldwide. There is also a special offer with up to 8 percent annual cashback. The development comes after Milkshake, an official member of the SHIB Marketing team, discussed SHIB benefit and growth opportunities with Binance.
I want to thank @binance for these past few weeks and giving me the opportunity to discuss and find possibilities for $SHIB specifically, and the community, while growing utility & ease of access for even more users worldwide.
— MILKSHAKE (@shibainuart) August 4, 2022
There are rules to follow when using Binance Card
“To spend newly supported cryptocurrencies with Binance Card, please go to Card Control Panel > Payment Priority > Edit and add, remove or sort cryptocurrencies according to your preference,” Binance said in a statement. The development comes at a time when Ripple is currently facing off about having securities in the US.
According to Binance, there are a few rules that Binance Card users must follow. Currently, Binance Card is only available to users in EEA (European Economic Area) countries as well as Ukrainian refugees living in those countries. Also, users must have six priority tokens on their Binance Card, with a maximum of 12 token options.
Binance Liquid Swap adds IOTX to liquidity pool
Finally, it’s worth mentioning that Binance Liquid Swap has added support for IOTX. The exchange also announced that it has opened a new liquidity pool. According to the statement, by adding liquidity to the IOTX/USDT liquidity pool, you can get 1,666,667 IOTX shares from yield-oriented rewards. Prizes will be determined based on your share of the total pool share. When 1,666,667 IOTX rewards are distributed, users will receive farming rewards that regularly yield returns.
