In an effort to bridge the gap between cryptocurrencies and everyday purchases, Binance and Mastercard announce the launch of the Binance Card in Argentina as a way to bridge this gap.
The product was launched for the first time in Latin America in Argentina. In an effort to increase the global adoption of cryptocurrencies in a tangible manner, Binance introduced the Binance Card last year as part of its ongoing efforts. Currently, the product is in the beta stage and will be widely available in a few weeks after the beta phase is complete.
New Coins Supported
Additionally, Binance has updated its list of supported cryptocurrencies on the Binance Card to include XRP, SHIB, and AVAX as well, effective from 2022-08-05 at 07:00 (UTC) with the changes taking effect on 2022-08-05.
At this time, Binance Card is only available to Binance users that live in the European Economic Area and Ukrainian refugees who reside in those countries (Binance Refugee Crypto Card), according to an announcement made by Binance.
ADA, AVAX, BNB, BTC, BUSD, DOT, ETH, LAZIO, PORTO, SANTOS, SHIB, SXP, USDT, and XRP are the 14 cryptocurrencies that are currently supported on the Binance Card.
The current Binance Card users will not have their Payment Priority preferences affected by the addition of XRP, SHIB, and AVAX to Binance Card, as there will be no change to their existing Payment Priority preferences.
Walter Pimenta, Executive Vice President, Products and Innovation, Mastercard Latin America and the Caribbean, said:
“Our work with digital currencies builds on our strong foundation to enable choice and peace of mind when people shop and pay. Together with our partners, Mastercard has been leading the payments industry in enabling entry to this exciting new world, helping bring millions of additional users into crypto and other digital assets in a safe and trusted manner”.
In order to make use of Bitcoin and BNB for purchases and bill payments, users in Argentina with a valid national ID card, including new and existing Binance users, will be able to obtain the Binance Card, issued by Credential Payments, which will enable them to make purchases and pay bills with cryptocurrencies including Bitcoin and BNB at over 90 million Mastercard merchants worldwide, both in-store and online.
It will enable users to make smooth and seamless transactions in which the cryptocurrency they wish to purchase is converted into fiat currency in real-time at the point of purchase, and they will also be able to earn up to 8% in crypto cashback on eligible purchases and enjoy zero withdrawal fees* on ATM withdrawals.
As a Binance cardholder, you will have the option to manage your card through the Binance app and website through the card dashboard. A dashboard that will be available to users on their debit cards will also provide them with access to their transaction history and customer service information.
