Mastercard and Binance Unveil Bitcoin Rewards Cards in Brazil

January 30, 2023

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Mastercard and Binance Unveil Bitcoin Rewards Cards in Brazil

To let customers make purchases easily using cryptocurrency, crypto exchange Binance and payment giant Mastercard have introduced Bitcoin rewards cards in Brazil.

According to Binance, all of the exchange’s users will benefit from the innovation by using the card to make purchases and as well pay bills using BTC in about 90 million Mastercard networks.

It also comes with perks including up to 8% cashback in crypto on eligible purchases, and zero fees on ATM withdrawals.

The newly launched card will be widely available across Brazil in the coming weeks and Brazil will eventually become the second Latin American countries where the card is available, the card had been in existence in Argentina since last year.

“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,” said Guilherme Nazar, general manager at Binance for Brazil.

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Brazil Crypto Relationship

When it comes to Bitcoin adoption, especially in Latam, Brazil remains one of the most crypto-friendly countries.

Weeks ago, Brazilian lawmakers voted in support of a bill that supports Bitcoin as payment in the country, although Bitcoin is still not a legal tender in the country.

Also last month, the president of the country signed a crypto regulation bill into law and established a licensing regime for crypto firms, furthermore, the country will as well punish individuals who are found guilty to be involved in scams related to virtual assets in the country.

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