Binance and Mastercard Partner to Accelerate Wider Bitcoin Acceptance
(26 August 2022 – Argentina) Consumers in Argentina could soon be settling every day purchases in crypto on the back of a collaboration between Binance and Mastercard.
The “Binance Card” will allow payment in cryptocurrency for shoppers in more than 90 million stores where Mastercard is accepted, both in-store and online. Payments will be supported for cryptocurrencies such as Bitcoin and BNB (Binance Coin), with cryptocurrencies converted to fiat currency in real-time at the point of purchase. The launch forms part of Mastercard’s broader efforts towards furthering global cryptocurrency adoption in a tangible manner.
The product is currently in beta phase and will be widely available in the coming weeks with plans to expand further.
“We can unlock the full potential of blockchain technology when we make it easier to access and easier to use. One way we do that is by bringing crypto to everyday purchases. The company is working with Binance to make this a reality launching first in Argentina with plans to expand from there. What could the blockchain industry look like in five years? We’re seeing hints of that” Mastercard CEO Michael Miebach commented.
“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. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption and now it is available for users from Argentina” stated Binance GM in Latin America Maximiliano Hinz.