Binance and Mastercard Launch Crypto Prepaid Card in Brazil as Part of Latam Expansion – News Bitcoin News
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Binance, the world’s largest cryptocurrency exchange, and Mastercard, the global payments giant, have announced the launch of a crypto prepaid card in Brazil as part of their expansion into Latin America.
The new prepaid card, which is expected to be available in the first half of 2021, will allow users to spend their crypto holdings with the same convenience as traditional payment cards. The card will be issued by Cielo, Brazil’s largest payments processor, and will be accepted at over 44 million locations worldwide.
The card will be linked to a Binance account, allowing users to convert their crypto holdings into Brazilian reals and spend them at any location that accepts Mastercard. The card will also offer cashback rewards and discounts at select retailers.
The launch of the prepaid card is part of Binance’s broader expansion into Latin America, which includes the launch of a fiat-to-crypto exchange in Argentina and the launch of a fiat-to-crypto gateway in Mexico. The exchange also recently launched a fiat-to-crypto gateway in Colombia.
The launch of the prepaid card is a major step forward for cryptocurrency adoption in Latin America, as it will provide users with an easy and convenient way to spend their crypto holdings. Furthermore, the card will help to bridge the gap between traditional finance and the cryptocurrency industry, as it will allow users to easily convert their crypto holdings into fiat currency and spend them with the same convenience as traditional payment cards.
Overall, the launch of the prepaid card is a major milestone for Binance and Mastercard in Latin America, as it will help to increase the adoption of cryptocurrency and bridge the gap between traditional finance and the cryptocurrency industry.
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