Binance partners with Mastercard to launch a prepaid crypto card in Brazil

crypto payments After ArgentinaBinance will offer Mastercard to its Brazilian customers. The cryptocurrency exchange thus continues its efforts to permanently establish itself in a country where 49% of consumers carried out at least one cryptocurrency-related activity last year, according to the 2022 Mastercard New Payments Adoption Index.

Mastercard for Binance customers in Brazil

in communication On January 30, Binance announced the launch of Binance Card in Brazil, with Master Card Credit Card. The map is currently in beta testing. It will be available to clients of the cryptocurrency exchange with a valid Brazilian national ID “in the coming weeks.”

Issued by banking and payment platform Dock, this prepaid card will allow its holders to easily use fourteen cryptocurrencies, including Bitcoin (BTC) and the Binance coin (BNB)to pay for their purchases.

In addition, MasterCard card users can take advantage of other benefits such as a Cashback In cryptocurrency on certain purchases, the rate can be up to 8%, plus no-cost withdrawals from ATMs – However, network and third party service fees may apply.

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The world’s first cryptocurrency exchange, conquering the land of samba

in his declaration, binance Explain that Brazil is in the list its top ten markets. The cryptocurrency exchange has continuously increased its investments and efforts in various fields in the country.

In March last year, Binance announced the signing of a memorandum of understanding for the acquisition of the Sim brokerage firm; Paul Investimentosthat contains Testimonials From the Central Bank of Brazil and the local securities authority.

Six months later, in September, binance Structuring its rule in order to conquer the South American market. Then the company merged into its board of directors, Henrique Meirelles, who was Former Minister of Finance Brazil under Michel Temer, who headed the country’s central bank for eight years.

The launch of this Mastercard is part of Binance’s efforts to establish a long-term presence in Brazil, which is a “very closely related market” for cryptocurrency exchanges, in the words of Guilherme Nazar, general manager of the Brazilian branch. Society.

Brazil ranks seventh in the Chainalysis Adoption Index last year. Thus, it attracts cryptocurrency exchanges that want to expand their presence internationally. Given this increasing adoption of cryptocurrency in the country, the local players in traditional finance They also dive into cryptocurrency.

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