Mastercard Launches Binance Crypto Card in Brazil

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Brazilian regulatedThe central bank's processing center Dock begins issuing a debit banking Binance Card, designed to integrate traditional financial services with the global cryptocurrency ecosystem.

Binance Card should automaticallyconvert crypto assets into fiat currency in real time directly at the time of purchase. According to Mastercard representatives, cryptocurrency debit card holders will be able to make financial transactions at more than 90 million service points around the world.

At the initial stage, the card balancesupported in 14 assets, including Brazilian real, BNB, BUSD, USDT, BTC and ETH. Brazilian owners of Binance Card are promised cashback of up to 8% in crypto assets and interest-free cash withdrawals from ATMs.

“The launch of Binance Card in Brazil wasthe result of the country's great interest in cryptocurrencies. According to a recent global survey, 49% of Brazilian consumers have engaged in at least one crypto transaction, compared to the global average of 41%. Binance sees this as an opportunity to invest in new services for local users and contribute to the development of the Brazilian blockchain and cryptocurrency ecosystem,” said Guilherme Nazar, general manager of Binance in Brazil.

The cryptocurrency exchange plans to introduce Binance Card to markets around the world, as well as expand the list of supported crypto assets. Previously, Binance and the Mastercard payment system released
a similar banking product for Argentine citizens.