- It is now under beta testing and will likely roll out over the next several weeks.
- Users of Binance Crypto Cards may get up to 8% BNB cashback on every purchase.
Monday saw the announcement that Mastercard and Binance will be releasing a prepaid card in Brazil, Latin America’s economic powerhouse.
According to the announcement, after Argentina, Brazil will soon get access to the so-called Binance Card. It is now under beta testing and will likely roll out to the public over the next several weeks.
Bridging the Gap
Users of Binance Crypto Cards may get up to 8% BNB cashback on every purchase. In addition, the crypto exchange will credit earned cashback into users’ Funding Wallet. As soon as possible after customers make a qualifying transaction.
The massive cryptocurrency exchange is continuing its push to bridge the gap between fiat cash and digital currency with this move. Based on the data, the costs associated with trading cryptocurrencies might be as high as 0.9%. To add insult to injury, a $25 cost will be assessed for re-issuing a physical card after the first free issue.
The card dashboard, accessible through the Binance website or the mobile app, will shortly be made available to Brazilian Binance cardholders. Users will be able to examine their transaction history and contact customer service straight from the card dashboard.
The prepaid card will function similarly to a debit card, allowing users to easily convert and spend their crypto holdings. It is expected that the card would be compatible with many cryptocurrencies, allowing users to select which assets they desire to store and spend.
As more people seek greater financial independence, anonymity, and trustworthiness. It stands to reason that demand for products like the Binance prepaid card would increase.
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