Mastercard, Binance Partner to Unlock Blockchain Technology Potential
"We can unlock the full potential of blockchain technology when we make it easier to access + easier to use. One way we do that is by bringing crypto to everyday purchases. To make that a reality, we're working with Binance to let people use their crypto to make purchases at 90m+ stores that accept Mastercard."
Prepaid Crypto Card in Argentina
Binance and Mastercard announced earlier this month that they had teamed up to introduce a prepaid card in Argentina that would link cryptocurrencies and regular commerce. Users in the area with a national ID could use the Binance Card, which Credential Payments issued, to make purchases and pay bills with cryptocurrencies.
Users To Get 8% Cashback On Purchases
The users' Bitcoin will be exchanged at the sale for fiat money. Users of the card will also earn 8% in cryptocurrency rewards and get to use ATMs without paying any fees. Binance intends to keep growing in new markets and adding support for other cryptocurrencies.
In Latin America, where statistics show that more than half of the population is familiar with digital assets, Mastercard is hedging its bets on cryptocurrencies. According to Hinz, this card will encourage greater adoption of cryptocurrencies in the country and let users pay with various crypto tokens while still enabling shops to accept fiat money.