Cryptocurrency exchange Binance announced on Thursday that it has partnered with Mastercard to launch Binance Card in Argentina.
Argentine Users Can Make Cryptocurrency Payments with Mastercard and Binance Partnership
In a statement from Binance, it was stated that Binance Card converts cryptocurrencies into fiat currency “in real time at the point of purchase”. Cardholders in Argentina can also earn up to 8% crypto cashback on certain purchases.
Maximiliano Hinz, Managing Director of Binance Latin America, said in a statement:
“The payments space is one of the first and most obvious use cases for cryptocurrencies, but adoption has a long way to go for growth.
Using Binance Card, merchants continue to receive fiat and users pay with the cryptocurrency of their choice. We believe Binance Card is an important step towards promoting crypto use and adoption globally and can now be used by users in Argentina.”
In the statement made by Binance, it was stated that Argentina will be the first country in Latin America to provide access to Binance Card. According to the statement, the card is currently in “beta” and will be available to a wider audience in the coming weeks. Binance states that two of the cryptocurrencies that the cards will support are Bitcoin and Binance Coin (BNB).
The exchange said in its press release:
“Binance Card issued by Credencial Payments allows all new and existing Binance users in Argentina with a valid national ID to make purchases and invoices with cryptocurrencies, including Bitcoin and BNB, at more than 90 million Mastercard merchants worldwide, both in-store and online. will allow him to pay.”
It looks like Binance is planning to expand its card product even further. “We are in more regions soon,” Binance CEO Changpeng Zhao added in a tweet on July 24 announcing the Argentina card launch.
*Not investment advice.