Binance Argentina card now supports payment through SHIB and ADA at more than 90 million Mastercard merchants. Users can make purchases both offline and online.
Binance has made another remarkable step in the crypto industry. Shoppers will soon be able to get a loaf of bread with Bitcoin after the payment giant Mastercard announced a partnership with the world’s biggest crypto exchange, Binance, to introduce various digital currency payments in high street stores.
Crypto Assets To Everyday Purchases
Binance has previously partnered with the payment giant Mastercard to launch Binance Card in Argentina to establish a connection minimizing the gap between cryptocurrencies and everyday purchases. Following Mastercard’s collaboration with Binance, the world’s largest crypto exchange is set to enable the payment solution in more jurisdictions. At the time of launch, it was mentioned that Argentina would be the first nation to have the product in Latin America.
On Tuesday, the CEO of Mastercard, Michael Miebach, revealed the payment giant Mastercard’s collaboration with Binance to launch a prepaid card called Binance Card. This card is ready to throw in Argentina before making its foray to other countries. Binance card will enable daily buyers to make purchases at over 90 million stores compatible with Mastercard globally. Users will be able to bridge fiat and cryptocurrencies on a daily basis. Binance Argentina Card will allow users to pay bills through online merchants from anywhere.
The crypto assets offered as payment by the Binance card include XRP, SHIB, and AVAX. The Binance Argentina Card currently supports fourteen more cryptocurrencies: BUSD, USDT, USDC, BTC, BNB, ETH, ADA, DOT, SOL, MANA, SXP, XRP, SHIB, and AVAX.
Encourage Wider Crypto Adoption
Binance Card is anticipated to boost the decentralized economy and crypto industry. More and more crypto enthusiasts will join in cheering this step as it is a revolutionizing step from Binance’s collaboration with Mastercard.
Mastercard CEO, Michael Miebach, said, “We can unlock the full potential of blockchain technology when we make it easier to access + easier to use. One way we do that is by bringing crypto to everyday purchases. To make that a reality, we’re working with Binance to let people to use their crypto to make purchases at 90m+ stores that accept Mastercard.”
It is to be noted that both existing and new Binance card users in Argentina with authenticated proof of national identity will be allowed to use its services. The innovative technology of the Binance card will ensure seamless transactions between the merchant and buyer as it will convert crypto to fiat in real-time during the transaction. Users will also get the benefit of earning up to 8% in crypto cashback on specific purchases and enjoy zero transaction fees on ATM withdrawals. Users can view transaction history, manage their cards, and access customer support through the card dashboard in the Binance app and the Binance website.
General Director of Binance in Latin America, Maximiliano Hinz, said, “Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. By using the Binance Card, merchants continue to receive fiat and the users pay in cryptocurrency they choose. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption and now it is available for users from Argentina.”
Final Thoughts
This expansion step from Binance in collaboration with Mastercard will encourage wider crypto adoption globally due to its valuable features for customers. Allowing payment with digital currency will enable choice and peace of mind while shopping and paying. Mastercard’s entry into the digital world will allow an exciting venture of crypto platforms to the crypto space as it gathers millions of additional users into the crypto world and other crypto assets in a safe and trusted manner.
