The Binance Card is a Mastercard linked to a Binance account. Your assets stay in your Binance account, and spending is deducted from your Spot or Funding account. Cashback has three tiers, up to 3%, and both the issuance fee and annual fee are US$0. Taiwan residents can apply with a Binance account that has passed identity verification. Fees and risks are listed below under What to know before applying.
What is the Binance Card? Company background
Binance was founded by Changpeng Zhao (CZ) in July 2017. Its current co-CEOs are He Yi and Richard Teng. Richard Teng succeeded CZ as CEO in November 2023, and He Yi was appointed co-CEO in December 2025. In March 2025, Abu Dhabi’s MGX invested US$2 billion in Binance for a minority stake, its first institutional investment, paid in stablecoins. A Binance press release from December 2025 said the platform had nearly 300 million users.
The card used in Taiwan is part of the Binance Card Global Program. It is issued by New Zealand’s Immersve Limited, branded by Binance, and runs on Mastercard. It is custodial: assets stay in your Binance account. Binance’s official blog said in May 2026 that the card was available in more than 10 markets.
For a full comparison, see the Binance Card review and comparison, or compare it with other cards on the crypto card comparison page.
Binance Card cashback: more monthly spend, higher rewards
The cashback tier is based on cumulative monthly spending in USD equivalent. Binance says the applicable rate applies to all eligible transactions for that month, and the tier resets at the beginning of each month. All three tiers apply automatically, with no fee or staking required.
| Item | Under US$100 | From US$100 | From US$1,000 |
|---|---|---|---|
| Monthly spending threshold | Below US$100 | US$100 to under US$1,000 | US$1,000 or more |
| Cashback rate | 1.5% | 2.0% | 3.0% |
| Monthly cashback cap | — | — | US$100 equivalent |
| Card issuance fee | US$0 | US$0 | US$0 |
| Annual fee | US$0 | US$0 | US$0 |
Cashback is paid in USDC or the equivalent value in BTC, based on the country registered to your Binance account, and reaches your Spot account by the 10th of the following month at the latest. If the amount is too small to convert to BTC, it is paid in USDC instead.
Cash withdrawals, payments to financial institutions (loan repayments, account top-ups, brokers, and investment platforms), government-related payments (taxes, fines, court fees, and government postal services), and gambling do not earn cashback.
Refunds are returned in USDC within 30 business days. Fees charged on the purchase are not refunded, and cashback already paid is clawed back.
Binance Card fees
- Issuance fee: US$0 for the virtual card.
- Annual fee: US$0.
- US dollar purchases: 0% foreign-exchange fee, plus a crypto conversion fee.
- Taiwan dollar purchases in Taiwan: 2% foreign-exchange fee, plus a crypto conversion fee; Binance says this is charged in addition to Mastercard fees.
- Conversion fee: 0.1% when paying with USDC; 0.9% for other supported assets.
- Funding: direct top-ups from third-party payment providers are not supported. The card deducts funds from your Spot or Funding account.
See Binance Card fees in detail.
Supported deduction assets include USDC, USDT, FDUSD, BNB, BTC, ETH, SOL, XRP, LTC, ADA, and U. Simple Earn Flexible is also a default funding source. The amount spent is redeemed and stops earning interest; a payment may fail if redemption is paused. To turn this off, go to [Manage Card] > [Source of Funding]. Learn more about Flexible Earn in the Binance Earn guide.
What to know before applying
- On August 10, 2026, the Taiwan Virtual Asset Service Provider Association named “Binance” on its warning list as not having completed anti-money-laundering registration with Taiwan’s Financial Supervisory Commission, and therefore not permitted to solicit business from the public in Taiwan.
- Cashback is paid in USDC or BTC equivalent, and the tier resets at the start of each month; cashback already paid is clawed back after a refund.
- Taiwan dollar purchases incur a 2% foreign-exchange fee, a crypto conversion fee, and additional Mastercard fees.
How to apply for the Binance Card (where to enter the referral code)
- Open Binance’s registration page using the referral link above. The referrer field will show the code
PENCHANCO. - Register and complete identity verification (KYC). Binance says an account must be verified, and eligibility is checked when you apply for the card. See the Binance registration guide for more signup details.
- Log in to Binance and tap [Apply now] on the Binance Card page.
- Enter your basic details and expected monthly spending in USD equivalent, then enter your residential address and submit the application for review.
- Once approved, the virtual card is issued within 15 minutes at most and activated automatically.
- To add it to Google Pay, go to [My Cards] → [Card Details], then add the card in the Google Pay app.
Using the card in Taiwan
Taiwan residents can apply; Little Penguin confirmed this on September 24, 2026. This article covers the virtual card, which has a US$0 issuance fee.
Mobile wallet linking:
- Apple Pay: new setups are currently paused.
- Google Pay: supported; see step 6 above.
- LINE Pay: supported; Little Penguin confirmed a successful setup on September 23, 2026.
- JKOPay: not supported; JKOPay only accepts credit cards issued by domestic partner banks.
Disputed transactions must be reported within 90 days of the transaction being completed. The first customer-support response takes about 3 to 5 business days. Contact the merchant first, then Binance Support; a refund is not guaranteed.
