Binance has partnered with Mastercard to launch prepaid crypto cards in Brazil, the crypto exchange announced Monday.
This card allows users to make payments using 13 cryptocurrencies including Bitcoin, Ether, and Binance USD. Binance’s card charges a fee of 0.9% per transaction, adding that Binance offers up to 8% cashback on cryptocurrencies and allows ATM withdrawals without fees.
The product is currently in testing and “will be available to the public in the coming weeks,” a Binance spokesperson told CoinDesk.
“Brazil is a highly relevant market for Binance and we will continue to invest in new services for local users and contribute to the development of the country’s blockchain and crypto ecosystem. said in a press release.
Binance 2022 Masters Shows 49% of Brazilian Consumers Said They Have Made at Least One Transaction Using Cryptocurrencies in the Past 12 Months, Compared to the Global Average of 41% I quoted a survey of cards.
Binance launched the card in Brazil, also in partnership with Mastercard, after making a similar announcement in Argentina in August 2022. The company launched a similar service in the European Economic Area in August 2020.
“Brazilians are enthusiastic about using cryptocurrencies beyond investment assets,” Marcelo Tanjoni, president of Mastercard in Brazil, said in a press release.