Binance and Mastercard issued a card in Argentina
Mastercard and the digital exchange Binance announced the launch of the Binance Card in Argentina.
It will allow local residents to make purchases of goods and services using cryptocurrencies. Representatives of the trading platform said: this is the first such product in Latin America. It is part of Binance’s plan to introduce digital currencies globally.
The experts of the firm noted: Binance Card is currently in beta testing stage and will be available to the masses in the next few weeks. All holders of the plastic card will be able to pay bills and make purchases using cryptocurrency assets without restrictions. Users will be able to use Bitcoin (BTC) and Binance Coin (BNB) at merchants where Mastercard cards are accepted.
Thanks to Credencial Payments, cryptocurrencies will be automatically converted into fiat money when paying in real time. Customers will also not have to spend extra fees when withdrawing cash from cards at ATMs. Owners will be able to receive up to 8% cashback in digital assets for certain categories of purchases, view transaction history and manage cards in the app and on Binance’s website.
Walter Pimenta, Executive Vice President of Products and Innovation at Mastercard’s regional office, said: Mastercard is a leader in the payments industry and is now helping millions of users connect to cryptocurrency and other digital assets safely and securely.
Binance Latin America CEO Maximiliano Hinz added: The Binance Card is an important component in encouraging greater use and global adoption of cryptocurrencies.