Binance Card Launches in Argentina as Residents Flock to Crypto

Binance’s expansion in Argentina is crucial as it becomes a central hub for crypto and crypto cards.

By
Mark Jurgens
on
August 6, 2022
Category:
DeFi

Binance Joins Argentina’s Crypto Card Boom

Binance and Mastercard launched a prepaid card in Argentina to support crypto payments.

The new card allows users to make purchases and pay bills directly with crypto, reducing their exposure to the crashing peso. It supports the conversion and spending of USDT, USDC, BTC, BNB, ETH, ADA, SOL, and some other cryptocurrencies. Additionally, customers can earn 1% to 8% in crypto-cash back and pay zero fees on ATM withdrawals.

"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 the crypto they choose. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption," said Maxi Hinz, General Director of Binance in Latin America.
Source

The leading crypto exchange is rapidly expanding in the South American country — from becoming the favorite route for residents to escape from the local currency to sponsoring the national football team.

But competition is fierce, and other local crypto exchanges are also emerging. For example, Lemon Cash, a crypto startup that raised $16.3 million in Series A funding, is the most downloaded app in the Argentine App Store and offers its own international prepaid card.

For what it’s worth, this BSC News writer will be ordering his own Binance Card to start enjoying the peace of mind of operating 100% in crypto.

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Mark Jurgens

Mark is an industrial engineer, born in Colombia and raised in Argentina, a place that is in deep need for the freedom crypto can offer the world. He is searching for projects that want to make a positive impact. Analytical and creative. Loves to travel around. Biggest holdings are Defichain, Ethereum and Solana.

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