Following a launch in Argentina in August, Binance and Mastercard have now launched their prepaid crypto card in Brazil.
In a press release shared with Cointelegraph, Guilherme Nazar, General Manager at Binance Brazil, said the card is a “significant step in encouraging wider crypto use and global adoption,” adding:
“Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow.” The card will allow real-time conversion from 14 crypto assets to fiat at the point of sale. Perks include up to 8% cashback in crypto on eligible purchases and zero fees on some ATM withdrawals.
According to Mastercard’s 2022 New Payments Index, Brazil leads the global average for crypto usage and adoption. In the global survey of more than 35,000 respondents, it found that 49% of Brazilians have made at least one crypto-related transaction in the past year, compared to the global average of 41%.
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