Binance And Master Card Jointly Launch A Bank Card In Argentina
- Binance Card project launched in Argentina
- This is a bank card with the ability to transfer cryptocurrency to fiat instantly.
- The exchange partner was the Master Card payment system
Yesterday, August 4, the Binance crypto exchange announced the release of a new prepaid card for the Argentine market. The company’s partner in this project was the Master Card payment system. Binance Card will make microtransactions in cryptocurrency more accessible.
The project’s key feature is the instant conversion of “ crypto ” into fiat at the point of sale. This allows you to pay by card anywhere.
It also provides a cashback of 8% of the number of purchases. The settlement takes place from the user’s wallet on the Binance platform. All transactions are fully automatic; just use the terminal.
Argentina became the first country in Latin America where Binance decided to test the new cards. The country’s population suffers from severe inflation, and the exchange believes that such a project will allow people to improve their well-being.
So far, the program is in beta testing mode. The partners plan to release more cards in the coming weeks. You can issue it at any bank that cooperates with MC.
“We believe that the Binance Card is a big step in encouraging the everyday use of cryptocurrencies and its global adoption. And now it is available to residents of Argentina,” said the head of the Latin American division of the exchange, Maximiliano Hinz.
Last year, the Argentine government seriously considered the possibility of integrating cryptocurrencies. Later, however, the authorities changed their rhetoric. At first, banks were banned from trading in digital assets, and then they ultimately confiscated cryptocurrencies from the population to pay off their debt to the IMF.