Binance US, the American division of the world’s largest cryptocurrency exchange, does not currently offer a debit or credit card. However, the company has hinted that it may offer a card in the future.
In an interview with The Block, Binance US CEO Catherine Coley said that the exchange is “exploring” the possibility of offering a debit card. “I think that would be really helpful for our users,” she said.
“So we are definitely looking into that and we will have more news to share on that front in the future.”.
Coley did not give a timeline for when Binance US might offer a card, or what type of card it would be. It’s also unclear if the card would be available to all Binance US users, or just select customers.
The Block’s report comes just days after Binance announced that it had partnered with Simplex to enable credit and debit card purchases of cryptocurrencies on its platform. However, this partnership is only available to users outside of the United States.
Binance US is one of the few major cryptocurrency exchanges that does not currently offer a debit or credit card. Coinbase, Gemini, and Kraken all offer some type of card product.
The lack of a Binance US card may be due to regulatory concerns. In the past, Binance has been accused of flouting anti-money laundering (AML) and Know Your Customer (KYC) rules.
A debit or credit card would likely require Binance US to implement stricter compliance measures.
For now, it seems that Binance US users will have to wait a bit longer for a debit or credit card option. But given the company’s recent partnership with Simplex, it seems likely that a Binance US card will eventually become available.