Binance and Mastercard, 2 of the world’s leading companies in their respective industries, have announced a new partnership to bring a new type of financial product to the people of Brazil.
Binance Card to Brazil
Binance plans to release its Binance Prepaid card, the Binance Card, in Brazil. Powered by Mastercard, the card offers a new level of convenience and accessibility for crypto holders in the country.
The Binance Card allows users to easily convert crypto to a fiat currency of their choice, such as the dollar or the euro. In practice, the card actually works like a traditional bank card. It offers users the freedom to choose which assets to hold and which to spend as they can be chosen separately.
Also, the card comes with some additional features such as cashback rewards, low transaction fees and various security measures that protect the user’s assets.
No release date known yet
The companies want to make it easier for anyone to access and actually use cryptocurrencies. They want to provide a bridge between the traditional financial system and the fast-growing crypto industry.
It is noteworthy that no release date has been announced for the Binance Card in Brazil. Still, it’s a promising step forward and the announcement has reportedly already sparked a lot of positive excitement locally. It is still unknown what effect this card will have on the global crypto market.
