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Binance and Mastercard announce the launch of Binance Card in Brazil

January 30, 2023
Por
Binance
Binance
The World’s Leading Blockchain Ecosystem and Digital Asset Exchange
📷
Estadão
The Binance Card issued by Dock will allow all new and existing Binance users in Brazil with a valid national ID to make purchases and pay bills with cryptocurrencies.
Contenido para Usuarios 🔒

Binance Card is part of our ongoing efforts toward evolving the relationship between existing financial services and the growing crypto ecosystem. The card is in its beta launch phase in Brazil, and will be widely available in the coming weeks.

Brazil is among the top ten markets for Binance globally and becomes the second country in Latin America to have the product, following its release last year in Argentina.

The prepaid card is part of the ongoing efforts toward evolving the bridge between existing financial services and the growing crypto ecosystem. The card is in its beta launch phase and will be widely available in the coming weeks.

Binance Card in Brazil

The Binance Card issued by Dock will allow all new and existing Binance users in Brazil with a valid national ID to make purchases and pay bills with cryptocurrencies, including Bitcoin and BNB, at over 90 million Mastercard merchants worldwide, both in-store and online.

Users can enjoy a seamless transaction in which their cryptocurrencies are converted to fiat currency in real-time at the point of purchase. One of the perks includes up to 8% cashback in crypto on eligible purchases and zero fees on ATM withdrawals (although please note that third-party services and network fees may apply) .

Binance cardholders will be able to manage their cards through the card dashboard on the Binance App and website. Users will also be able to view their transaction history and access customer support via the card dashboard.

By using the Binance Card, merchants continue to receive fiat and the users pay in any cryptocurrency they choose across 14 supported currencies.

Adoption and Innovation

Guilherme Nazar, General Manager at Binance for Brazil says: “Brazil is an extremely relevant market for Binance and we will continue to invest in new services for local users, as well as contributing to the development of the blockchain and crypto ecosystem in the country.

“Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption, and the openness of Brazilians to innovation makes the country a great market for this release.”

The 2022 Mastercard New Payments Index, a global survey of more than 35,000 respondents, found that Brazil is one of the top markets in crypto interest across the world: 49% of Brazilian consumers have done at least one crypto related activity in the past year in comparison with the global average of 41%.

“Brazilians are eager to embrace crypto beyond an investment asset. Today is an exciting step in our crypto journey, which draws on the strengths of both our trusted global network and Binance’s infrastructure to support consumer choice in payments”, says Marcelo Tangioni, Mastercard Country Manager, Brazil.

Currencies and Fees

Binance Card holders in Brazil will be able to pay by using 14 different currencies, including the Brazilian Real, BNB, BUSD, USDT, BTC, ETH, SANTOS, ADA, DOT, SOL, SHIB,  XRP, MATIC, and LINK.

Users can select in the app or platform the preferred currencies they intend to use. Payments with BRL are zero fee (please note that third-party services and network fees may apply), while there's an applicable 0.9% conversion fee on payments using cryptocurrencies.

In addition to supporting additional cryptocurrencies, Binance plans to continue to expand the card into new markets around the world.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

Binance Card is part of our ongoing efforts toward evolving the relationship between existing financial services and the growing crypto ecosystem. The card is in its beta launch phase in Brazil, and will be widely available in the coming weeks.

Brazil is among the top ten markets for Binance globally and becomes the second country in Latin America to have the product, following its release last year in Argentina.

The prepaid card is part of the ongoing efforts toward evolving the bridge between existing financial services and the growing crypto ecosystem. The card is in its beta launch phase and will be widely available in the coming weeks.

Binance Card in Brazil

The Binance Card issued by Dock will allow all new and existing Binance users in Brazil with a valid national ID to make purchases and pay bills with cryptocurrencies, including Bitcoin and BNB, at over 90 million Mastercard merchants worldwide, both in-store and online.

Users can enjoy a seamless transaction in which their cryptocurrencies are converted to fiat currency in real-time at the point of purchase. One of the perks includes up to 8% cashback in crypto on eligible purchases and zero fees on ATM withdrawals (although please note that third-party services and network fees may apply) .

Binance cardholders will be able to manage their cards through the card dashboard on the Binance App and website. Users will also be able to view their transaction history and access customer support via the card dashboard.

By using the Binance Card, merchants continue to receive fiat and the users pay in any cryptocurrency they choose across 14 supported currencies.

Adoption and Innovation

Guilherme Nazar, General Manager at Binance for Brazil says: “Brazil is an extremely relevant market for Binance and we will continue to invest in new services for local users, as well as contributing to the development of the blockchain and crypto ecosystem in the country.

“Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption, and the openness of Brazilians to innovation makes the country a great market for this release.”

The 2022 Mastercard New Payments Index, a global survey of more than 35,000 respondents, found that Brazil is one of the top markets in crypto interest across the world: 49% of Brazilian consumers have done at least one crypto related activity in the past year in comparison with the global average of 41%.

“Brazilians are eager to embrace crypto beyond an investment asset. Today is an exciting step in our crypto journey, which draws on the strengths of both our trusted global network and Binance’s infrastructure to support consumer choice in payments”, says Marcelo Tangioni, Mastercard Country Manager, Brazil.

Currencies and Fees

Binance Card holders in Brazil will be able to pay by using 14 different currencies, including the Brazilian Real, BNB, BUSD, USDT, BTC, ETH, SANTOS, ADA, DOT, SOL, SHIB,  XRP, MATIC, and LINK.

Users can select in the app or platform the preferred currencies they intend to use. Payments with BRL are zero fee (please note that third-party services and network fees may apply), while there's an applicable 0.9% conversion fee on payments using cryptocurrencies.

In addition to supporting additional cryptocurrencies, Binance plans to continue to expand the card into new markets around the world.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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