Payments giant Mastercard and cryptocurrency exchange Binance announced the Binance Card plastic card launch in Argentina. It will allow residents to purchase goods and services using cryptocurrencies. Representatives of the trading platform said: this is the first such product in Latin America. It is part of Binance’s plan for the global adoption of digital currencies worldwide.
The firm noted that: Binance Card is currently in beta testing and will be available to the general public in the next few weeks. All plastic card holders can pay bills and make purchases using cryptocurrency assets without restrictions. They will be able to use Bitcoin (BTC) and Binance Coin (BNB) at merchants that accept Mastercard cards.
Thanks to the Credencial Payments division, cryptocurrencies will be automatically converted into fiat money when paying in real-time. Customers will also not have to pay additional commissions when withdrawing cash from the card at ATMs. Owners can earn up to 8% digital asset cashback on certain purchase categories, view transaction history, and manage cards in the Binance app and website.
Walter Pimenta, Executive Vice President for Products and Innovation at Mastercard Regional Office, said: Mastercard is a leader in the payments industry and now helps millions of users connect securely and securely to cryptocurrencies and other digital assets.
Maximiliano Hinz, CEO of Binance Latin America, added: “The Binance Card is an important component in the process of encouraging greater use of cryptocurrencies and their global adoption.