Following the collaboration between Binance and Mastercard, a new prepaid crypto card is available to Brazilian residents.
According to them, the card operated by Mastercard brings a new level of convenience and accessibility to the South American country. They aim to achieve this through low transaction fees and security measures to protect users’ assets. The device will reportedly charge a transaction fee of 0.9%, in addition to up to 8% cashback will allowand also the fee-free ATM exceptions.
The Binance prepaid card allows users to easily exchange and spend their cryptocurrencies, using it like a traditional bank card. It is also expected to support 13 digital assets, including bitcoin, ehter and Binance USD. Furthermore, its owner will be able to choose which cryptocurrency he wants to store on it and then pay with it.
However, it is not yet known when it will be available, but according to news, they can request it even in the coming weeks. The announcement has already generated considerable interest and excitement among the local crypto community.
“Brazil is an extremely important market for Binance, so we continue to invest in new services for local users. We are also contributing to the development of the blockchain and crypto ecosystem in the country.” – said Guilherme Nazar, head of Binance Brazil.
According to the survey, which takes into account the year 2022, 49% of the country’s population claimed to have made at least one transaction with cryptocurrency in the past 12 months. In contrast, the global average was 41%. This shows why Binance and Mastercard want to expand in this South American country.