Everything you need to know about Binance and Mastercard’s latest partnership in Argentina! On 4 August, Binance and Mastercard posted an interesting new update about crypto in Argentina via Twitter.
— CZ 🔶 Binance (@cz_binance) August 4, 2022
On 4 August, Binance posted a new partnership related to a new crypto-related project with Mastercard in Argentina. Binance and Mastercard introduced a new card called Binance Card. The purpose is to connect cryptocurrencies and daily life purchases in the country. Currently, Argentina is the first Latin American country to have this card. According to Binance, it is also one of the moves to boost global crypto adoption.
Maximiliano Hinz, General Director of Binance in Latin America, said, “Payment is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow.”
The Binance Card
In a post on Twitter, Binance mentioned three advantages of the Binance Card. First, users can enjoy making purchases in cryptocurrencies, such as Bitcoin, BNB, and more, at over 90 million Mastercard merchants globally. These cryptocurrencies will be converted to fiat currency during the purchase.
— Binance (@binance) August 4, 2022
Maximiliano Hinz added, “By using the Binance Card, merchants continue to receive fiat, and the users pay in the cryptocurrency they choose.”
Second, users can get cashback up to 8%. Third, there are no fees for ATM withdrawals. Users in Argentina should have a valid national ID for this to work. The card will be widely available in the coming weeks.
Nowadays, Argentina is one of the countries with large crypto users. Citizens are using crypto as the country is affected by inflation.