"It's good that Binance is quick to act, then it can beat its competitors."
Cryptocurrency exchange giants Binance and Mastercard Inc. has partnered to launch prepaid cards in Brazil as part of its efforts to develop traditional banking and digital assets.
Although still in the testing phase, Brazil is the second country in Latin America to get the Binance Card after Argentina in the coming weeks.
The use of the Binance Card will allow users to generate cashback (cashback) Binance Coin (BNB) every time they spend on goods.
Explained in more detail, the issuance of the card will cost $25 and holders in Brazil can manage their respective cards through the dashboard available on the Binance website.
Additionally, prepaid cards are found to be just like other regular debit cards in that they allow users to exchange or spend their digital asset holdings.
Plus prepaid card users in South America can shop and pay bills with crypto in stores that use Mastercard payments.
It is worth noting that the card will also support various types of crypto and this makes it easy for users to choose which digital assets they want to save or spend.
Overall, the collaboration between Binance and Mastercard can not only expand crypto and blockchain technology, but also attract more individuals globally to use the prepaid card.
