August 12, 2022


Binance is partnering with financial services giant Mastercard to bring a new crypto card to South America.

The two companies recently announced plans to roll out a “Binance Card” in Argentina sometime in the next few weeks.

Buenos Aires-based Credencial Payments will issue the card, which aims to “bridging the gap between cryptocurrency and everyday purchases,” according to a new report. press release from Binance.

The new product will allow customers to purchase goods and services and pay bills using digital assets at more than 90 million MasterCard merchants worldwide. The card converts crypto assets directly into fiat currency at the time of purchase.

This is not the first time Mastercard has ventured into the world of cryptocurrency. In June, the company made it possible for users to purchase non-fungible tokens (NFTs) directly with their credit cards without having to purchase virtual assets first.

In January, MasterCard announced a partnership with leading US crypto exchange Coinbase, allowing users to purchase digital collectibles with their credit cards on Coinbase’s NFT Marketplace.

Other credit card giants have also recently been involved in the encryption procedure. In June, reports surfaced that American Express was working on launching the first-ever credit card offering crypto rewards.

Moreover, Visa has partnered with at least 65 crypto platforms, including industry giants FTX, BlockFi, Crypto.com, Coinbase and Binance, allowing consumers to transfer digital assets and use them to pay for goods and services.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

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