Industry DisruptionLaunchedBinance Announces Prepaid Crypto Card In Brazil With Mastercard
Milestone Date: January 30, 2023
Binance is teaming up with Mastercard to launch the Binance Card, a prepaid crypto card, in Brazil. The card will allow Brazilian Binance users to make purchases and bill payments with their cryptocurrency at over 90 million online and in-store Mastercard merchants.
The Binance Card presents a way for people to seamlessly use their cryptocurrency for everyday purchases. The cryptocurrency is converted to fiat instantly during the point of purchase. Users can also enjoy an 8% cashback in crypto on select purchases and zero ATM withdrawal fees.
“Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption, and the openness of Brazilians to innovation makes the country a great market for this release,” said Guilherme Nazar, General Manager at Binance for Brazil.
According to the 2022 Mastercard New Payments Index, Brazil is one of the top countries in the world with an interest in crypto. “Brazilians are eager to embrace crypto beyond an investment asset. Today is an exciting step in our crypto journey, which draws on the strengths of both our trusted global network and Binance’s infrastructure to support consumer choice in payments,” said Marcelo Tangioni, Mastercard Country Manager, Brazil.
By Elizabeth Morrison
Published:January 30, 2023
Sources
Official Web Page