MasterCard is the credit card giant and Binance is the World’s largest crypto exchange both are teamed up to launch a second prepaid crypto card in Latin America. The Dock is a payment institution regulated by the Brazilian Central Bank and is issuing a new card for all new and existing users of Binance in Brazil.
Binance Card is part of the relationship between existing financial services and the growing crypto ecosystem. The card is in its testing phase and will be available in the coming weeks.
Binance Card
Brazil Binance users with valid National IDs will allow making purchases and pay bills using Crypto Currencies, over 90 million Mastercard merchants worldwide both in-store and online. Users can enjoy a seamless transaction with their cryptocurrencies converted to fiat currency in real time at the point of purchase
They offer up to 8% cashback in eligible purchases of crypto and they provide zero fees through ATM withdrawals. The users, who are cardholders of Binance can manage their cards through the card dashboard on the Binance App and website, then view their transaction history and access their customer support through the card dashboard.
- Binance and MasterCard are announced to launch of the Binance Card in Brazil.
- The Dock is issuing the Binance Card.
- Zero fees for BRL payments, 0.9% conversion fees to the payments using cryptocurrencies.
The users can pay in any cryptocurrency across 14 supported currencies and continue to receive fiat by using the Binance Card.
Managing Director of Binance for Brazil, Guilherme Nazar, says: “Brazil is an extremely important market for Binance, and we will continue to develop new services for local users and contribute to its blockchain and crypto ecosystem development.”
Brazil is one of the top markets in the world when it comes to crypto interest, according to the 2022 Mastercard New Payments Index, a survey of more than 35,000 people. In the past year, 49% of Brazilians have taken part in at least one crypto-related activity, compared to 41% around the world.
These are 14 different currencies, that are used for payment in Brazil Binance cards are the Brazilian Real, BNB, BUSD, USDT, BTC, ETH, SANTOS, ADA, DOT, SOL, SHIB, XRP, MATIC, and LINK. Users can select the preferred currencies they intend to use by the app or platform.
Zero fees for BRL payments but 0.9% conversion fees to the payments using cryptocurrencies. In order to support additional cryptocurrencies, Binance plans to continue to elaborate the card into new markets all over the world.
