Argentine adoption: Crypto cards to grant access

Leading cryptocurrency exchange Binance has announced a partnership with Mastercard in a bid to launch a prepaid card for Argentine users.

Announced this week, Binance stated that it will be allowing its customers to use Bitcoin and other altcoins in the industry to make purchases where Mastercard is accepted. This puts Bitcoin and cryptocurrency on the map in the country at approximately 90 million retailers and merchants in the country and online. Binance noted that the introduction of the card is part of the firm’s aims to offer cryptocurrency use and expand functionality in the industry across the world. While Argentina is the first in the region to receive access to Binance’s cards, customers in Ukraine have also been introduced to the cards and Binance announced plans for the European region two years ago.

According to the announcement, Argentine users will also be rewarded for using the Binance card and can earn up to 8% back in cryptocurrency for making certain purchases.

Maximiliano Hinz, general director of Binance in Latin America commented on the launch of the card:

“Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. By using the Binance Card, merchants continue to receive fiat and the users pay in cryptocurrency they choose.”

Although the cryptocurrency industry is struggling after a major crash and struggles to maintain strength amidst a bear market, reports and research shows that the region is set for crypto use. According to research into the industry, Argentines are looking to use cryptocurrency for payments much more than in neighbouring regions including Peru and Mexico. This, coming off a bear market, sets the industry up to thrive when the market sees a turn in an upward direction.

Related Articles

Opera Mini’s Crypto Wallet MiniPay Expands to Include USDT and USDC

Opera Mini's MiniPay app, which was upgraded to a crypto wallet, has amassed three million users since its launch in September 2023.

Deutsche Telekom Joins Subsquid Decentralised Network

Deutsche Telekom’s collaboration with Subsquid follows its recent announcement to expand into BTC mining at the BTC Prague conference.

The Bahamas Pushes Banks to Adopt Sand Dollar CBDC

The Bahamas was one of the first countries in the world to launch a central bank digital currency — the “Sand Dollar” in 2020.

Crypto ATMs Near Record in Installations, Signalling Growing Adoption

The 2,564 cryptocurrency ATMs installed in 2024 are on track to surpass the 2,861 machines removed in 2023.

See All