- Binance has partnered with Mastercard Inc to launch a prepaid card in Brazil.
- Binance Card offers up to 8.0% BNB cashback on eligible transactions.
- Binance currently recognizes Brazil as one of the largest markets it serves.
On Monday, Mastercard Inc partnered with Binance to introduce prepaid cards in Latin America’s largest economy, Brazil. That stock has been trading for a long time.
Binance Card Promotes Widespread Use of Cryptocurrencies
Binance hopes the cryptocurrency card will help further bridge the gap between traditional banking and digital assets. Guilherme Nazar, his Binance general manager in Brazil, said:
Payments are one of the first and most obvious use cases for cryptocurrencies, but there is a lot of room for growth in adoption. We believe the Binance Card is an important step in facilitating wider cryptocurrency usage and global adoption.
As Coin Journal reported here, just a few months ago, Binance and Mastercard partnered to launch the service in Argentina. After beta testing, it will be broadly available in Brazil in the coming weeks.
Mastercard has over 90 million merchants worldwide.
Binance Card Offers Favorable Cashback
When making purchases using crypto cards, users will earn up to 8.0% BNB cashback and will be transferred directly to their Binance Funding Wallet. Nazar also said:
Brazil is a highly relevant market for Binance and we will continue to invest in new services for local users and contribute to the development of the country’s blockchain and crypto ecosystem.
Binance currently recognizes Brazil as one of the largest markets it serves.
Users get their first card for free, but reissues cost $25.of binance card It will reportedly support multiple cryptocurrencies as well.