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

BlackRock Acknowledges Bitcoin’s Progress in Latest Spot Bitcoin ETF Ad

A mature approach by BlackRock to promoting its new spot ETF with an ad labelling Bitcoin simply as 'progress'.

The MicroStrategy Effect: Bitcoin’s Exposure to Millions Through S&P 500 Listing

To have a chance of making it on popular index MicroStrategy would need to rise another $3.7 billion market cap.

Coinbase Ends Native Bitcoin Payments for Merchants

Coinbase Commerce will discontinue support for BTC and similar UTXO coins, shoppers will need Coinbase account to use BTC for payments.

Understanding Bitcoin Escrow Services

Understanding what Bitcoin escrow is and the benefits plus protocols escrow services offer to buyers and sellers.

See All