Last Updated: 31 January 2023
Mastercard and Binance are to jointly launch a prepaid card in Brazil, Latin America’s largest economy. It is an important first step for Binance to “bridge the gap between the traditional market and the crypto market”.
According to a statement, the so-called Binance Card is currently in the beta testing phase and should be launched within weeks. This makes Brazil the second country in Latin America after Argentina where it will become available.
Brazil is one of Binance’s ten largest markets, according to the world’s largest spot and derivatives exchange. The prepaid card should help all new and existing Binance users in the country to pay with cryptocurrencies at Mastercard point-of-sales.