Binance and Mastercard have jointly introduced a cryptocurrency rewards card in Brazil. The card will allow payments with 13 cryptocurrencies, including bitcoin, ether and Binance USD.The card will enable customers to pay for daily purchases using Bitcoin and other selected cryptocurrencies via Mastercard’s network of 90 million merchants.
https://twitter.com/binance/status/1620081827221487616
New and existing Binance users can benefit from up to 8% cashback in crypto on eligible purchases and zero fees on ATM withdrawals. This card will soon be accessible in Brazil and will make it the second Latin American country to offer it, after Argentina.
The funds will be converted from crypto to fiat currency in real-time at the point of purchase with a 0.9% conversion fee for crypto payments.
Binance contiues Brazilian Expansion
Binance has established offices in São Paulo and Rio de Janeiro, Brazil to expand its presence in the country’s thriving cryptocurrency market with over 34.5 million users.
The leading cryptocurrency exchange will have more than 150 employees in Brazil and is in compliance with the local regulatory framework, recognizing the importance of regulation for the growth and accessibility of digital assets. The firm has been working on expanding in Brazil since March and has doubled its team size.
Binance has also demonstrated its commitment to responsible crypto operations by hosting workshops for law enforcement agencies in Brazil and Argentina to combat crypto crime. The company has shifted its focus to working with regulators following regulatory scrutiny in 2021.
Binance Charity Fund, the philanthropic arm of the world’s largest crypto exchange has also partnered with the non-profit organization, Women in Tech, to offer training to almost 3,000 women in South Africa and Brazil.
