Mastercard, Binance launch prepaid crypto card in Brazil
Binance and Mastercard today announced the launch of Binance Card in Brazil.
Brazil is among the top ten markets for Binance globally and becomes the second country in Latin America to have the product, following its release last year in Argentina.
The Binance Card issued by Dock will allow all new and existing Binance users in Brazil with a valid national ID to make purchases and pay bills with cryptocurrencies, including Bitcoin and BNB, at over 90 million Mastercard merchants worldwide, both in-store and online.
Users can enjoy a seamless transaction in which their cryptocurrencies are converted to fiat currency in real-time at the point of purchase. One of the perks includes up to 8% cashback in crypto on eligible purchases and zero fees on ATM withdrawals .
Binance cardholders will be able to manage their cards through the card dashboard on the Binance App and website. Users will also be able to view their transaction history and access customer support via the card dashboard.
Binance Card holders in Brazil will be able to pay by using 14 different currencies, including the Brazilian Real, BNB, BUSD, USDT, BTC, ETH, SANTOS, ADA, DOT, SOL, SHIB, XRP, MATIC, and LINK.
Users can select in the app or platform the preferred currencies they intend to use. Payments with BRL are zero fee (please note that third-party services and network fees may apply), while there’s an applicable 0.9% conversion fee on payments using cryptocurrencies.
Guilherme Nazar, General Manager at Binance for Brazil says:
“Brazil is an extremely relevant market for Binance and we will continue to invest in new services for local users, as well as contributing to the development of the blockchain and crypto ecosystem in the country.
Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption, and the openness of Brazilians to innovation makes the country a great market for this release.”
“Brazilians are eager to embrace crypto beyond an investment asset. Today is an exciting step in our crypto journey, which draws on the strengths of both our trusted global network and Binance’s infrastructure to support consumer choice in payments”, says Marcelo Tangioni, Mastercard Country Manager, Brazil.
In addition to supporting additional cryptocurrencies, Binance plans to continue to expand the card into new markets around the world.