Binance and Mastercard Join Forces to Launch Prepaid Card in Brazil
Cryptocurrency exchange Binance and multinational financial services giant Mastercard have announced a partnership to launch a prepaid card in Brazil. This follows the successful launch of the Binance card in Argentina. The card is currently in beta testing and should be available to users in the coming weeks. This move is part of Binance‘s mission to bridge the gap between traditional finance and crypto. The card will be accepted in all shops that employ Mastercard‘s payment services, and is available to both new and existing customers in Brazil, one of Binance‘s key markets.
Binance and Cred Partnership Launches Prepaid Crypto Card in Argentina
Binance and Cred have joined forces to launch a prepaid cryptocurrency card in Argentina. The card allows users to receive up to 8% cashback in BNB for specific purchases. Clients can withdraw a maximum of 45,000 pesos ($241) per day or up to 180,000 pesos ($964) per month. Daily purchases are limited to 90,000 pesos ($482), while monthly buys cannot exceed 360,000 pesos ($1,929). This prepaid card launch in Brazil and Argentina could be a game-changer for the region, as it could increase the interest in digital currencies and improve financial inclusion. With this new card, users can now easily access and use cryptocurrencies for everyday purchases.
Cryptocurrency Adoption in South America
Brazil and Argentina are two of the leading countries in the world when it comes to cryptocurrency adoption. Despite Brazil being the largest financial market in South America, tens of millions of its citizens lack access to basic monetary services. This has led to an increase in the use of digital assets, such as bitcoin and stablecoins, as an alternative to traditional banking services. In Argentina, the political turmoil, galloping inflation, and general financial issues have also contributed to the rise in cryptocurrency adoption. As a result, 41% of Brazilians surveyed have admitted to being HODLers. Cryptocurrency is becoming an increasingly popular option for those in South America looking for a secure and reliable way to store their money.
