The world’s leading cryptocurrency infrastructure provider, Binance, has partnered with Mastercard to announce the launch of the Binance Card in Brazil.
The prepaid card is a part of the ongoing initiatives to evolve the bridge between existing financial services and the growing crypto ecosystem. The card is still in the testing phase and will be available widely in the coming weeks.
The Binance Card that will be issued by Dock will allow all Binance users in Brazil with a valid national ID to pay bills and make purchases with cryptocurrencies, including BNB and Bitcoin. Purchases can be made at over 90 million Mastercard merchants worldwide, both in-store and online.
Users can enjoy a seamless transaction during which their cryptocurrencies are converted to fiat currency at the point of purchase in real time. Some of the advantages include zero fees on ATM withdrawals and up to 8% cashback in crypto on eligible purchases.
Binance cardholders can manage their cards through the card dashboard on the Binance website and App. Users will also be able to see their transaction history and access customer support through the card dashboard. By using the Binance Card, merchants will continue to receive fiat, and the users can pay in any cryptocurrency they choose.
Binance Card holders in Brazil can pay by using 14 different currencies, including DOT, SOL, ADA, SHIB, XRP, MATIC e LINK, USDT, BTC, ETH, BNB, BUSD, Santos fan token, and Brazilian Real.