Friday August 5, 2022

Binance Partners With Mastercard to Launch Crypto Card in Argentina
  • The Binance card is available to Argentinian users who have valid documentation.
  • Withdrawals made at an ATM will not be subject to any fees.

The global cryptocurrency exchange Binance has teamed up with Mastercard to provide a cryptocurrency prepaid card in Argentina. On Thursday, the exchange dominated the headlines. After a few weeks of beta testing, the CZ’s exchange has released a new card.

The Binance card is available to Argentinian users who have valid documentation. The exchange sees the product’s release as a crucial step in its worldwide growth. In addition to the 90 million Mastercard retailers throughout the world, the new card will enable users to pay for goods and services using crypto.

Multiple Benefits For Card Holders

At the moment of purchase, crypto will be instantly converted to fiat cash using the card. An additional cashback of 8% on all qualified purchases will also be given to cardholders. Withdrawals made at an ATM will not be subject to any fees.

With the dashboard accessible on the app and website, Binance cardholders have easy access to the card’s features and management. The app also provides access to payment history and customer service.

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Walter Pimenta Executive VP of Mastercard Latin America stated:

“Our work with digital currencies builds on our strong foundation to enable choice and peace of mind when people shop and pay. Together with our partners, Mastercard has been leading the payments industry in enabling entry to this exciting new world.”

An official launch of the card will take place in Argentina, the first Latin American nation to do so. Cryptocurrency cards are becoming more popular in Argentina. Almost three local crypto exchanges have recently begun offering crypto card services.

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