Binance and Mastercard Launch Crypto Prepaid Card in Brazil as Part of LATAM Expansion
Brazil has been successful in getting the Binance Prepaid Card and the leading crypto exchange has reportedly announced the launch of its Binance Guard in Brazil on January 30, a product that allows crypto users to convert older traders into cryptocurrencies. Will grant permission to complete the payment. The card, which is backed by MasterCard, will enable registered customers of the exchange from across Brazil to pay with 13 supported cryptocurrencies, including on-the-fly conversions to the Brazilian real. Certainly to some this product release will not come as a surprise nor a surprise as it was stated in September by Matthew Schroder, Global Vice President and Regional Director of the leading crypto exchange, that it was planning to launch a new platform in Brazil. was one of the top upcoming markets for the launch of its card. Payments made in fiat currency using the prepaid card will be fee-free, while payments involving crypto-to-fiat conversion are capped at 0.9%, while the card also offers 8% cashback in crypto currency Which is a chance to go to the eligible buyers and get a chance. This move is definitely a part of their efforts that the leading exchange is taking to expand its services and certainly strengthen its portfolio by introducing more and more services in its range. Brazil is the second market in which the device will be launched after So Exchange was the first to launch its product in Argentina in August last year. There is definitely room for the crypto exchange to expand its services in the payments sector and Brazil is one of the largest payment centres on the continent and there is clearly an interest in bringing the services to the country. Regarding the goals that the crypto exchange wants to achieve, Guilherme Najar, Binance General Manager for Brazil, said that payments for crypto are one of the first and most obvious cases and we have a lot more clarity on how we can do our work. can be done through the best means. We believe that the crypto exchange is taking an important step in promoting the wider adoption of cryptocurrency technology as well as promoting globalisation. Surely it’s innovation or openness to Brazilians that makes the country a great market for this release. The general manager explains that Brazil was one of the biggest relevant markets for the exchange in the region and the company would do its part to bring new services and expand and grow blockchain and cryptocurrency services in the country. and invests in it. Binance hopes to expand this product to more markets but has not made a decision on the matter.