The Changpeng Zhao-led Binance and its affiliates have had a great 2019, with multiple developments and upgrades. The world’s largest cryptocurrency exchange got another boost recently after it announced that Binance’s own Binance Coin [BNB] could now be traded using Visa and MasterCard.
The organization claimed that the addition of BNB in the Visa/MasterCard roster meant that the seventh largest cryptocurrency on the charts joined Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], XRP and Bitcoin Cash [BCH]. Visa and MasterCard’s partnership with BNB was a landmark achievement because of the integration of a mainstream organization with its cryptocurrency counterparts.
The latest feature led many fans of Binance to speculate that “Coinbase is done!” and that the MasterCard/Visa involvement was an important breakthrough. Bitcoin Birch, a BTC proponent added,
“For the “don’t buy crypto on credit card” people – yes, don’t do that. However, keep in mind that Visa and MasterCard also issue Debit cards.”
Binance followed the footsteps of Coinbase, its biggest rival, after it teamed up with Visa in April to launch the Coinbase Card. Coinbase’s blog had stated,
“This is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU, allowing users to spend their crypto balances direct from their Coinbase account”
Binance was also in the news recently when it launched the Great Britain Pound [GBP]-backed BGBP, on the Binance Chain. According to sources, CZ had already “issued” its stablecoin, which might lead to positive effects on Binance Coin’s price. CryptoBatman, a cryptocurrency proponent, also tweeted about the addition, tweeting,
It looks like @Binance has issued their Stable Coin $BGBP on Binance Chain!
It’s incredible how fast Binance moves. I can’t say enough how big this is for Binance and Binance Chain.
Expect $BNB to skyrocket from here!”
The latest announcement may also have contributed to BNB’s sudden surge in prices on the cryptocurrency charts