The card is currently testing and will be available for wider use in the coming weeks.
Cryptocurrency Availability on Card
The card will support payments with 13 cryptocurrencies, including bitcoin, ether, and Binance USD. Binance charges a transaction fee of 0.9% and offers up to 8% cashback in crypto. The card also allows ATM withdrawals without any fees.
Binance in Brazil
Binance is heavily invested in Brazil and plans to continue contributing to developing the blockchain and cryptocurrency ecosystem. A recent study by Mastercard showed that 49% of Brazilian consumers had made a transaction using cryptocurrency in the past 12 months, higher than the global average of 41%.
Expansion Efforts
Binance launched a similar card in Argentina in August 2022 in partnership with Mastercard. The company also launched a similar offering in the European Economic Area in August 2020.
Mastercard in Brazil
Marcelo Tangioni, President of Mastercard in Brazil, stated that Brazilians are eager to use cryptocurrency as an investment asset.
Binance & Mastercard Partnership in Brazil
Binance, the cryptocurrency exchange, and Mastercard have joined forces to launch a prepaid crypto card in Brazil. This partnership aims to make it easier for Brazilians to use cryptocurrency for payments.
Features of the Card
The card supports payments with 13 cryptocurrencies, including bitcoin, ether, and Binance USD. Binance charges a transaction fee of 0.9% and offers up to 8% cashback in crypto. The card also enables ATM withdrawals without fees.
Binance's Investment in Brazil
Binance is focused on growing in Brazil and contributing to the development of blockchain and cryptocurrency in the country. A recent study by Mastercard showed that 49% of Brazilian consumers had used cryptocurrency for transactions in the past 12 months.
Expanding Reach
This is not the first time Binance has launched a similar card in partnership with Mastercard. Binance has already launched a similar card in Argentina and the European Economic Area.
Mastercard's Stance on Cryptocurrency
Marcelo Tangioni, President of Mastercard in Brazil, said Brazilians are eager to use cryptocurrency beyond just an investment asset.
