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Binance Teams Up With Mastercard To Release Crypto Card In Argentina

Binance has collaborated with Mastercard (NYSE:MA) to launch a crypto card in Argentina. Binance’s native Binance Coin (BNB) is up 36% from the last month. The...
Binance Teams Up With Mastercard To Release Crypto Card In Argentina Binance Teams Up With Mastercard To Release Crypto Card In Argentina

  • Binance has collaborated with Mastercard (NYSE:MA) to launch a crypto card in Argentina.
  • Binance’s native Binance Coin (BNB) is up 36% from the last month.
  • The crypto giant is looking to attain global crypto adoption ‘in a tangible way’.

Argentina is set to become the first country in Latin America to gain access to the Binance Mastercard. The news was announced in a press release made by Binance on August 4th, as the company aims to attain rapid crypto adoption in retail ‘in a tangible way’.

What Benefits Does the Argentina Binance Card Bring?

With the card in the process of being launched, Binance users in Argentina that have completed verification with the Documento Nacional de Identidad will have the ability to apply. The service will allow customers to pay in any shop using Bitcoin (BTC), Binance Coin (BNB), or one of a selection of popular stablecoins. Binance has yet to provide a full list of the available Altcoins eligible to be used with the new crypto card.

“Our work with digital currencies builds on our strong foundation to enable choice and peace of mind when people shop and pay”, explained Walter Pimenta, Executive Vice President at Mastercard’s Latin America & Caribbean headquarters.

Indeed, peace of mind for crypto enthusiasts shall arrive together with 8% cashback in eligible stores. Furthermore, the Argentina Binance Card will enable users to withdraw funds from any Mastercard supported ATM in the country with zero fees. As General Manager of Binance Latin America Maximiliano Hinz explained: “We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption”.

Latin America Has Huge Potential as a Crypto Hub

The technology behind the Binance Mastercard automatically converts cryptocurrency to fiat in real time for each transaction made, so merchants won’t have to worry about the trademark volatility of cryptocurrencies. Crypto entities appear to view Latin America as the ideal region to test out crypto-related products, and Binance plans to continue its expansion into the region.

Just last week, Honduras announced the ‘Bitcoin Valley’ in Santa Lucia in a bid to attract tourists and accelerate the adoption of crypto. Furthermore, El Salvador has forged a reputation as a loyal ambassador of blockchain technology, and was the first country to introduce Bitcoin (BTC) as legal tender. On top of this, the rise in demand for cryptocurrencies in Brazil has risen beyond all expectations, with fresh start-ups in the country, like Nubank, attaining milestones far sooner than expected.

On the Flipside

  • Binance CEO Changpeng Zhao took offence to a publication by Bloomberg, suing the media outlet’s subsidiary for defamation.

Why You Should Care

Latin America has a high level of demand for crypto, as many of the regions citizens are unbanked, and lack infrastructure or economic stability. Binance is among the biggest players in the crypto game, and is looking to provide the necessary infrastructure to facilitate smooth adoption in the region.

For more about the Bitcoin Valley, read:

Bitcoin (BTC) Valley in Santa Lucia, Honduras

Find out about El Salvador’s development in:

El Salvador’s debt buyback

Volcano BTC bonds launch

Santander (BME:SAN) has taken an interest in Latin America. Read more in:

Santander’s entrance into the Brazilian crypto market

Continue reading on DailyCoin

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13-08-2022 16:51:39 (UTC+7)

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 EUR/USD1.0261↑ Buy
 GBP/USD1.2135↑ Sell
 USD/JPY133.46↑ Sell
 AUD/USD0.7121↑ Sell
 USD/CAD1.2774↑ Buy
 EUR/JPY136.93Sell
 EUR/CHF0.9659↑ Sell
 Gold1,818.40↑ Buy
 Silver20.835↑ Buy
 Copper3.6783↑ Buy
 Crude Oil WTI91.88↑ Buy
 Brent Oil98.01Buy
 Natural Gas8.780↑ Buy
 US Coffee C227.53↑ Buy
 Euro Stoxx 503,776.81Sell
 S&P 5004,280.15↑ Buy
 DAX13,795.85Neutral
 FTSE 1007,500.89Neutral
 Hang Seng20,175.62↑ Buy
 Small Cap 20002,013.09↑ Buy
 IBEX 358,400.40↑ Sell
 BASF44.155↑ Buy
 Bayer54.15↑ Buy
 Allianz181.08↑ Sell
 Adidas173.20↑ Buy
 Lufthansa6.588↑ Sell
 Siemens AG111.84↑ Sell
 Deutsche Bank AG9.061↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,620/ 6,720
(0/ 0) # 1,655
SJC HCM6,660/ 6,760
(30/ 30) # 1,651
SJC Hanoi6,660/ 6,762
(30/ 30) # 1,653
SJC Danang6,660/ 6,762
(30/ 30) # 1,653
SJC Nhatrang6,660/ 6,762
(30/ 30) # 1,653
SJC Cantho6,660/ 6,762
(30/ 30) # 1,653
Cập nhật 13-08-2022 16:51:41
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ↀ Giá vàng thế giới
$1,801.89+12.740.71%
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RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$91.88+0.550.60%
Brent$97.89+0.110.11%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.220,0023.530,00
EUR23.498,0024.813,92
GBP27.761,8728.945,83
JPY170,70180,72
KRW15,5018,89
Cập nhật lúc 16:47:39 13/08/2022
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