Crypto exchange Binance and payments provider Mastercard are teaming up once again, this time to launch a prepaid Binance card in Brazil.
The card will enable Binance users with valid national identification to make purchases and pay bills with cryptocurrencies, according to a company release.
“The prepaid card is part of the ongoing efforts toward evolving the bridge between existing financial services and the growing crypto ecosystem,” Binance said.
The card is issued by Dock and is in beta testing with plans for it to be widely released in the coming weeks.
Last year, Binance rolled out a prepaid card with Mastercard in Argentina.
“Brazil is an extremely relevant market for Binance, and we will continue to invest in new services for local users, as well as contributing to the development of the blockchain and crypto ecosystem in the country,” said Guilherme Nazar, general manager at Binance for Brazil.
Latin America was the seventh largest cryptocurrency market in the Chainalysis index last year, with citizens of Latin American countries receiving $562 billion in crypto in the year through June 2022, a 40% jump. Interest in cryptocurrencies has flourished in places like Argentina where inflation nearly topped 100% in 2022. Cryptocurrencies are frequently also used for remittances between countries in an effort to avoid capital controls and costly transfer fees.
Binance plans to continue to expand the card into new markets. Several crypto exchanges have rolled out card partnerships including Blockchain.com and Crypto.com. Collapsed crypto exchange FTX planned to roll out a Visa debit card out to more than 40 countries not long before its bankruptcy filing. Visa terminated the partnership as the exchange filed for Chapter 11 bankruptcy protection and said the U.S. debit card program would be wound down by the issuer.
We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism.
From Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.
And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.
When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble.
Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.
We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.
Please Read Essential Disclaimer Information Here.
© 2022-2023 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt