Binance x Mastercard Launch Card in Brazil

Binance has announced the launch of a pre-paid spending card in Brazil together with Mastercard. The partnership will seek to grow the connections between fiat and cryptocurrencies in the Latin American country and builds on the duo’s partnership announced last Summer.

The launch of the new pre-paid card will make Brazil the second country in Latin America to gain access to the Binance card after Argentina launched a card in the Summer of 2022, according to the Portuguese language blog announcement on January 30. Brazil was Binance’s second-largest market in Latin America in 2022, behind Argentina, and represents a strong audience for the world’s largest crypto exchange.

“Brazil is an extremely relevant market for Binance and we will continue to invest in new services for local users, as well as contribute to the development of the blockchain and the crypto ecosystem in the country,” said Guilherme Nazar, Binance's General Director for Brazil.

The new Binance card will support fourteen different cryptocurrencies and open payment access to 90 million global merchants in fiat. There will be a 0.9% conversion fee, 8% cryptocurrency cashback for qualified purchases, and zero ATM withdrawal fees.

“We believe that the Binance Card is a significant step to encourage the wider use of cryptocurrencies and global adoption, and the appetite of two Brazilians for innovation makes the country a large market for this launch,” Nazar added.

Binance continues to grow its presence in Latin America. The exchange recently joined two Latin American Financial Technology groups in Colombia and Argentina to continue its commitment to expanding in the region.

Brazil represents a major opportunity for Binance as well. The recent blog post details stats from Mastercard's New Payments Index 2022 that show how nearly half of Brazilians made crypto purchases before the report. That’s more than the overall global average!

“Brazilians are eager to use cryptocurrency in addition to an investment asset. Today we take an exciting step on our crypto journey, which brings together the strengths of our highly reliable global network and Binance's infrastructure to support consumer choice for their payments,” said Marcelo Tangioni, president of Mastercard in Brazil.

What is Binance:

Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.

Where to find Binance:

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