Binance Launches Mastercard Debit Card in Brazil
Binance has announced the official launch of its Mastercard debit card in Brazil. The new card allows Binance users to spend from their accounts at select Mastercard machines and converts cryptocurrency to EUR in real-time at the transaction point.
#Binance Card is available in Brazil 🇧🇷https://t.co/qMY6afSryl pic.twitter.com/qYFPelHdSn
— CZ 🔶 Binance (@cz_binance) February 15, 2023
The Binance Card has already established a user base in many countries around the world and can now add Brazil to that list. The decision to launch the card in Brazil follows the country’s recent crypto regulations recognizing cryptocurrencies as a form of payment.
Benefits for Crypto Transactions
The Binance Card is a debit card that allows users to hold and exchange crypto when making transactions. In addition, the card provides various benefits to Binance users, such as 8% BNB cashback when used in certain purchases and lowered third-party fees.
The card is eligible to be used anywhere Mastercard cards are accepted in the list of countries where the card is offered. However, the card only supports conversion to EUR, and the countries listed do not include the US or the UK. On the other hand, the Binance card supports the conversion of a range of cryptocurrencies, including BNB, BUSD, BTC, ETH, XPR, and many more.
Step Towards Crypto Adoption
Binance had announced its intention to expand the launch of its crypto debit card earlier this year. With the recent launch in Brazil, the card has expanded its reach, offering more options to crypto users looking for convenient and secure payment methods.
Binance’s Mastercard debit card is a step towards the mainstream adoption of cryptocurrency, as more traditional financial institutions recognize the potential of digital currencies. With the expansion of crypto regulations around the world, more countries are likely to follow in Brazil’s footsteps, allowing the Binance card to add more countries to its growing list of operations.
