Binance Introduces Prepaid Crypto Card in Brazil in Partnership with Mastercard

The global leading crypto exchange Binance​ announced yesterday the launch of the prepaid crypto card Binance Card in Brazil in collaboration with Mastercard.

According to the official press release, the offering, part of the ongoing efforts toward evolving the bridge between legacy financial services and the growing crypto ecosystem, will enable all new and existing Binance users in Brazil with a valid national ID to make purchases and pay bills with cryptocurrencies, including Bitcoin and BNB, at over 90 million Mastercard merchants worldwide, both in-store and online. 

Users can seamlessly convert their cryptocurrencies to fiat currency in real-time at the point of purchase. 14 currencies are supported, including the Brazilian Real, BNB, BUSD, USDT, BTC, ETH, Santos fan token, ADA, DOT, SOL, SHIB, XRP, MATIC e LINK.

"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.

"Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption, and the openness of Brazilians to innovation makes the country a great market for this release".

Brazil is the second country in Latin America to have the product, following Argentina. Moreover, Binance is intended to expand the card into new markets around the world, in addition to supporting additional cryptocurrencies.