Binance’s Mastercard crypto card launches across CIS countries

Binance rolls out its prepaid Mastercard crypto card to select CIS markets, offering instant crypto-to-fiat payments, cashback rewards, and a Valentine promo amid scam warnings.

Binance has launched its prepaid Mastercard crypto card in several Commonwealth of Independent States countries, marketing lead Anka Tsintsadze confirmed on Friday.

The cryptocurrency exchange, the world’s largest by trading volume, made the Binance Mastercard available to verified users in select CIS jurisdictions including Armenia. The card allows users to convert bitcoin, ethereum, stablecoins and more than 100 supported tokens instantly into local fiat currency at checkout.

“Pay in crypto. Merchants get fiat or crypto. Best way to push crypto payments and adoption,” Binance co-founder Changpeng Zhao wrote on X, commenting on the service’s regional expansion.

According to Binance, the card supports both in-store and online transactions at outlets that accept Mastercard. Prepaid crypto card holders are eligible to receive up to 2% cashback on qualifying purchases, capped per month.

Users in the CIS can fund accounts using US dollars via credit or debit cards, Apple Pay, and Google Pay. In Uzbekistan, customers may deposit Uzbek som through the Humo card network, while those in Kazakhstan can top up balances in tenge through local banks and Mastercard channels.

The card enables customers to retain crypto holdings until the moment of purchase. When making payments, Binance executes the exchange at checkout, eliminating the need for cardholders to pre-convert their crypto into fiat.

The crypto-linked payment card will only be available to applicants who already hold an account with a provider that issues such cards, including a crypto exchange or a digital currency-supporting bank. Binance requires users to complete identity verification and anti-money laundering checks before ordering the card, including standard know-your-customer procedures.

Once approved, users can access card services without Binance administrative, processing, or annual fees, although third-party charges still apply in some cases, according to the company.

Prior to Friday’s announcement, the exchange had launched its card services in the UK, Austria, Belgium, Bulgaria, Croatia, the Republic of Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden. The CIS rollout extends Binance’s card footprint beyond the European Economic Area.

Binance also announced a Valentine-themed promotional campaign with a reward pool. The campaign runs for approximately one month, or until the rewards are fully distributed. The promotion features pink-themed crypto rewards and invites users to complete tasks within the Binance ecosystem.

Users can participate by referring friends, topping up wallets, or trading on Spot and Futures markets. The “Bring a Plus One” initiative rewards users for inviting new participants to the platform. “Love at First Top-Up” encourages participants to deposit via Binance P2P, fiat channels, card payments, or the Buy Crypto feature. Rewards can reach up to a set limit in tokens identified by a pink icon, including AMP, UNI, and DOT, according to Binance.

Separately, US prosecutors issued a warning Thursday that Valentine’s Day is a peak season for romance cryptocurrency scams. The US Attorney’s Office for the Northern District of Ohio advised citizens to be cautious of online relationships.

Attorney David Toepfer stated that fraudsters may have been building trust over weeks or months before February 14, luring victims into making crypto payments to fraudulent investment platforms. He listed several warning signs, including requests to move conversations from dating apps to WhatsApp or Telegram, early professions of love, refusal to meet in person, and demands for payment via crypto, gift cards, or wire transfers.

“Romance scammers are after your money, not your heart. They prey on trust and emotion, often targeting elderly Americans and vulnerable individuals. We encourage everyone to slow down, verify identities, and never send money to someone you have not met in person,” US Attorney Toepfer stated in the alert.