Binance and Mastercard will launch prepaid crypto cards in Argentina
Crypto Exchange Giant Binance has partnered with Mastercard to launch a prepaid card for the residents of Argentina.
Maximiliano Hinz expressed Payments are one of the first and most obvious use cases for crypto yet adoption has a lot of room to grow
According to Binance, the card is expected to be widely available soon the company's efforts to further the global adoption of crypto in Argentina will be the first the region to have access to the Binance cards.
Maximiliano Hinz said, Payments is one of the first and most obvious use cases for crypto yet adoption has a lot of room to grow general director of Binance in Latin America. by using the Binance card merchants continue to receive fiat and the users pay in cryptocurrency they choose.
The card requires Argentines to have a valid national identity or government-approved documents requirements are already in place for credit cards issued by local crypto exchanges. in 2021, Lemon Card Launched a card with a visa offering 2% back in BTC for Argentine users while Buenbit and Belo both partnered with Mastercard to release a prepaid card and a crypto rewards card respectively.
Furthermore, Reports suggest that many Argentines may still be turning to crypto. According to the American Markets intelligence report from April, researchers found that crypto penetration in Argentina had reached 12% roughly double that of Peru and Mexico.