Binance Launches its Mastercard Debit Card in Brazil

Joshua Ramos
Source: Decrypt

The largest crypto exchange platform on the planet, Binance, has officially launched its Mastercard debit card in Brazil. The Binance card is a newly implemented debit card that allows Binance users to spend from their accounts at select Mastercard machines.

The Binance Card already features a user base in a plethora of countries, and now can add Brazil to that list. The card enables the conversion of cryptocurrency to EUR in real time at the transaction point.

Binance Card is Officially Available in Brazil

In January of this year, the crypto exchange platform announced its intention to expand the launch of a crypto debit card. Now, that expansion has taken place, as Binance has launched its Mastercard debit card in Brazil.

The decision follows crypto regulation in the country at the end of last year. That legislation recognized cryptocurrencies as a form of payment within the country, setting the stage for the Binance card to add Brazil to the long list of countries it operates within.

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The Binance card is a debit card that allows users to hold and exchange crypto when making transactions. Moreover, the card also presents a variety of benefits to Binance users. Including 8% BNB cashback when it is used in certain purchases and some lowered third-party fees.

The card is eligible to be used anywhere Mastercard cards are accepted in the list of countries the card is offered in. Thus far, the countries listed do not include America or England, and it only supports conversion to EUR. Conversely, the Binance card supports the conversion of a host of cryptos, including BNB, BUSD, BTC, ETH, XPR, and many more.