The crypto behemoth Binance has partnered with Mastercard to launch a prepaid card – ‘Binance card’ in Argentina to make purchases easier for its clients and thus bridge the gap between cryptocurrencies and everyday buying.
Argentina will hence become the first country in Latin America to launch a ‘Binance card’. The ‘Binance Card’ is the crypto firm’s perfect move to facilitate cryptocurrency adoption worldwide.
Binance card is in the beta phase and will be available globally in the coming weeks.
Credencial Payments has issued the Binance Card to let both new and existing Binance users in Argentina with a valid national ID purchase and make payments with cryptos, like Bitcoin and BNB.
The card can be used at over 90 million Mastercard merchants globally both in-store and online.
The card will unleash a seamless transactional experience in which their cryptos will be converted to fiat in real-time during the purchase and also get up to 8% crypto cashback on a few limited purchases. Note that ATM withdrawals would be free. (However third-party services and network fees may apply).
Binance cardholders can manage their cards via the card dashboard on the Binance App as well as on the website. Users can also take a look at their transaction history and access customer support via the card dashboard.
Walter Pimenta, Executive VP, Mastercard Latin America and the Caribbean, said “Our work with digital currencies builds on our strong foundation to enable choice and peace of mind when people shop and pay.”
Maximiliano Hinz, general director of Binance in Latin America commented that through the Binance Card, merchants will receive fiat while users pay in cryptocurrency of their choice.
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