Binance enlists Mastercard to launch prepaid crypto card in Argentina.

According to a statement released yesterday, the stock exchange Binance announced a partnership with the payment company Mastercard. The partnership aims to launch the award card crypto “Binance Card” which will be distributed in the coming weeks in Argentina. Indeed, both companies hope to lead cryptocurrency adoption in the Latin American region.

Up to 8% cashback on card purchases

One of the most significant advantages of the new card Binance is offering As far as 8% cashback in BNB for specific purchases. Refunds eligible for Binance it will be immediately credited to the funded wallet.

In addition, this card does not charge fees for ATM withdrawals. Users can withdraw up to 45,000 pesos per day ($ 339 at the official exchange rate) or a maximum of 180,000 pesos ($ 1357) per month.

Cashback alone makes the credit card Binance a strong competitor to traditional banks which tend to offer very low cashback rates. The banks They also charge high fees for withdrawing money from ATMs.

To apply for the card, users must have an account Binance well. This card will do it buy up to 90,000 pesos a day and a maximum of 360,000 pesos per month. For now, supported cryptocurrencies for payments via the Binance paper I am BNB, BUSD, BTC, ET, USDT, USDCADA, DOT, SOL, MANA and SXP.

Related Reading: Binance Reveals BAB Token Targeting KYC User Credentials.

An initiative to lead cryptocurrency adoption in Argentina

Maximilian HinzChief Executive Officer of Binance in Latin America, he said this paper would help promote greater use of cryptocurrencies in Argentina. This allows merchants to receive fiat allowing users to decide to pay in a variety of cryptocurrencies.

“Payments are Mon of the most obvious first use cases for crypto. However, adoption has a lot of room to grow. Using the Binance papermerchants continue to receive fiat and users pay in the cryptocurrency of their choice. We think the Binance paper is an important step to encourage greater use of cryptocurrencies and their global adoption, and is now available to users in Argentina.

Separately, Walter Pimenta also commented on the collaboration. Pimenta serves as Executive Vice President of Product and Innovation at Mastercard Latin America and the Caribbean. He said Mastercard will allow millions of users to enter the world of cryptocurrencies with the safety and reliability that the company offers.

“Our work with digital currencies builds on our strong foundation. This is to allow for choice and peace of mind when people shop and pay. Together with our partners, Mastercard has led the payments industry by entering this exciting new world, helping to bring millions more users to crypto and other digital assets securely and reliably.

Bonus: Portuguese banks stop providing services to cryptocurrency exchanges.

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