Mastercard and cryptocurrencies, a winning duo – Binance sets up a card like no other in Argentina
Make room for crypto payments! – From 2021, bank card giants MasterCard and VISA are completely immersed in the universe of Bitcoin (BTC) and cryptocurrencies. This time it’s inside Argentina that the payment network will offer a card format CB founded on cryptothrough the competition of the exchange platform Binance.
The Binance Card is coming to Argentine shores this summer
Inaugurated for the first time in 2020 BinanceCard is a map in format CB which allows you to use the cryptocurrencies of your Binance account to pay for your purchases, as well as with any bank card. The conversion local currency cryptocurrencies are, indeed, automatique and completely transparent for the user. This makes it as easy to use as using a credit card.
In a press release published on August 4, 2022, Binance now announces the launch of its crypto card in the Argentinain collaboration with the giant MasterCard. Argentina will become like that first Earth from Latin America that you have a Binance card.
Currently at the end of its beta testing phase, the Binance crypto-card should begin to be widely distributed “in the coming weeks”according to the press release.
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Driving cryptocurrency adoption and financial inclusion
With the power of the Mastercard network, it’s over 90 million merchants which will accept crypto payments from happy Binance Card holders, either in physical stores or online.
This new cryptocurrency payment option will have double benefit to enable both councils adoption concrete cryptocurrencies and improvementfinancial inclusion Argentinians.
“Payments are one of the most obvious early use cases for cryptocurrencies. And their adoption still has a lot of room for growth. By using the Binance Card, merchants continue to receive fiat currencies while users pay with the cryptocurrency of their choice. We believe the Binance Card is an important step in driving broader cryptocurrency use and global adoption. (…)”
Maximiliano Hinz, Managing Director of Binance Latin America
In addition to crypto-payment cards, such as those of Binance, Mastercard is also interested in other types of crypto-assets. Indeed, last June, the giant wanted it Mastercard cards allow direct purchase of NFTs (irreplaceable tokens).
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