Binance and Mastercard will enter the Brazilian crypto market

The companies, Binance and Mastercard together took an important step. To expand the connection between traditional finance and cryptocurrencies in Brazil. Taking advantage of its popularity in Brazil, Behance launched a prepaid card under the Mastercard seal. Under this partnership, the Behance card is part of “the company’s ongoing efforts to expand the connection between traditional finance and cryptocurrencies,” as noted by the crypto company. “The product is in beta phase and will be widely available in the coming weeks,” company representatives added.

Connecting traditional finance and cryptocurrencies

The card will allow Binance users in the South American country with a valid national ID to purchase and pay bills with cryptocurrencies at more than 90 million Mastercard-affiliated merchants. With this, Brazil would be the second country with this innovation, since Argentina was the pioneer in having the first Taiwan WhatsApp Number Data Binance payment card in Latin America. This partnership shows that the adoption of cryptocurrencies for payments has high potential. This is stated by Walter Pimenta, executive vice president of products and innovation at Mastercard Latin America and the Caribbean.

Potential of cryptocurrencies in the payments market

By using the Binance card, merchants continue to receive fiat and users pay in the cryptocurrency of their choice. Another notable case is the partnership Italy Telegram Number between Binance Pay and Inswitch. Which will provide millions of Latin American merchants with options in the crypto space. Allowing them to increase revenue by accepting crypto and enabling all businesses with a new way to make payments. From according to what was indicated by both companies in September. Notably, the new features allow merchants to receive payments in over 50 cryptocurrencies with lightning-fast payments while also representing an opening to new business models.