To bridge the gap between cryptocurrencies and everyday purchases, Binance and Mastercard are teaming up in Argentina to bring the prepaid card to market.
The Binance Prepaid Card allows all new and existing users of the world’s largest cryptocurrency exchange in Argentina with a valid national ID to shop and pay with cryptocurrencies, including Bitcoin and BNB, at over 90 million Mastercard merchants worldwide, in stores and online. They can enjoy a seamless transaction in which their cryptocurrencies are converted into fiat currency (coins and banknotes) in real time at the time of purchase, as well as earn up to 8% crypto cashback coins on qualifying purchases and receive free ATM withdrawal fees.
#Binance teams up with @Mastercard to launch a new prepaid card in Argentina to enable crypto payments in the region 🇦🇷
Users can enjoy:
🔸 Make purchases in cryptocurrencies (#BTC, #BNB, etc.)
🔸 Up to 8% cashback in cryptocurrencies
🔸 Zero fees for ATM withdrawals
— Binance (@binance) August 4, 2022
Walter Pimenta, Mastercard’s Executive Vice President of Products and Innovation for Latin America and the Caribbean, said:
Our work with digital currencies is based on our solid foundation of providing choice and peace of mind when people shop and pay. Together with our partners, Mastercard has led the payments industry by providing an opportunity to enter this exciting new world, helping millions of users use cryptocurrencies and other digital assets safely and securely.
Daily use of cryptocurrencies in Argentina with Binance and Mastercard
Argentina is the first country in Latin America to launch this product, which is the result of a collaboration between Binance and Mastercard. The prepaid card is in beta testing and will be widely available in the coming weeks. Binance cardholders will be able to manage their card through the card panel in the app and on the Binance website. Users will also be able to view their transaction history and access customer support via the card dashboard.
Maximiliano Hinz, General Manager of Binance Latin America, explains:
Payments are one of the most obvious early use cases for cryptocurrencies, but there is still plenty of room for adoption to grow. By using the Binance prepaid card, traders continue to receive liquidity and users pay with the cryptocurrency of their choice. We believe the Binance Prepaid Card is an important step in encouraging greater cryptocurrency usage and global adoption, and is now available to users in Argentina.