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The binary card is in the beta launch phase, and the crypto company ensures that it will be fully available to all users within the next few weeks.
Popular crypto exchange and financial services company Mastercard (NYSE: MA) have partnered to launch a prepaid rewards card in Brazil. The new card will be offered to Brazilians who have a valid national identity card and will allow them to make purchases and pay bills through cryptography. Before the latest partnership with Brazil, BINANCE rolled out the Binance Argentina Card last year, which supports real-time crypto-to-fiat conversion. It allows users to pass crypto with traders worldwide.
Binance to Launch Rewards Card in Brazil
Like Argentina, Brazil is also one of the leading markets for Binance globally and has now become the second country in Latin America to have the product. The Director General for Binance in Brazil, guilherme nazar, Nominated for the Brazilian elections as A "highly relevant binary market." nazar added that the cryptography company would continue to invest in the country and support progress in the cryptography ecosystem.
According to a crypto exchange announcement, unveiling prepaid rewards cards is part of ongoing efforts to connect existing financial services to the ever-expanding crypto industry. Currently, the binance card is in the beta launch phase, and the crypto company says it will be fully available to all users in the coming weeks.
Depending on the binance, all existing and new in Brazil have access to the rewards card which supports 14 cryptocurrencies, including bitcoin and bnb. At the same time, more than 90 million Mastercards worldwide will accept it online and in physical stores. The crypto society said:
"Users can benefit from a transparent transaction where their cryptocurrencies are converted into real-time cash at the point of sale. One of the benefits includes up to 8% crypto cash back on qualifying purchases and zero charges on ATM withdrawals.”
However, cardholders should remember that third-party network service charges may apply. Additionally, the Exchange application features a card dashboard where users can manage their cards. The binance site is also available to manage maps.
Growing adoption of crypto technology in Brazil.
A worldwide survey of more than 35,000 respondents found that Brazil is one of the major markets for crypto interest. According to the 2022 Mastercard New Payments Index, 59% of Brazilian Mastercard clients have completed at least one crypto transaction over the past year, compared to the global average of 41%. Marcelo Tangioni, Country Manager Mastercard, Brazil, discussed the introduction of crypto in the country.
Brazilians are looking forward to adopting cryptography over and above an investment asset. Today is a fascinating stage in the course of cryptography, that builds on the strengths of our global network of trust and Binance infrastructure to support consumer payment choice," he said.
