The global trend is shifting as more and more debit and credit cards are looking into an expansion in the crypto world. Another prepaid crypto card has been introduced in Latin America by credit card giant Mastercard in collaboration with the biggest cryptocurrency exchange on the planet.
Binance announced the arrival of the Binance Card in Brazil on January 30. The new card is produced by Dock, a financial organization under Banco Central do Brasil’s regulation. If you are looking for the best crypto bonuses of February 2023, CasinoDaddy is the right place for you.
With the new card, both new and current Binance users in the nation using legitimate national IDs will be able to make purchases and pay bills with cryptocurrency. According to Binance, the card is now in the beta testing stage and will be “widely available in the next weeks.”
After Argentina in August, Brazil is the second nation where Binance has made the product available. Brazil is one of Binance’s top 10 international markets, the release claims.
Guilherme Nazar, general manager of Binance Brazil, stated in a recent news release that the card is a “significant step in encouraging wider crypto use and global adoption,” adding that “Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow.”
At the moment of sale, the card will enable real-time conversion from 14 crypto assets to fiat. Benefits include 0% fees for select ATM withdrawals and up to 8% cash back in cryptocurrency on qualified transactions.
Brazil has a higher acceptance and usage of cryptocurrencies than the worldwide average, according to Mastercard’s 2022 New Payments Index. Brazilians outperformed the average of all respondents (41%), in the worldwide poll of more than 35,000 people, by making at least one crypto-related transaction.
A measure to permit the use of cryptocurrencies as a form of payment inside the nation was approved by departing President Jair Bolsonaro in December.
While numerous digital assets are now included in the definition of authorized payment methods, the new legislation does not make Bitcoin as legal money as it has in El Salvador. There is now a licensing system in place for companies that offer virtual asset services.
Overall, the time to invest seems like it might be right now. Companies and business figures around the world have not given up on crypto, despite the stigma it has mustered in recent months and years.