Binance has collaborated with Mastercard to bring a crypto card to Argentina. It is a prepaid card and allows its user to use Bitcoin (BTC), BNB, and other cryptocurrencies to make payments and purchases, and even make ATM transactions in fiat.
Binance is trying to expand the world's use of crypto and says that the new card is to be "widely available in the coming weeks." Argentina may be the first to get these cards but Binance wants to expand to Ukraine and other parts of Europe.
Maximiliano Hinz, general director of Binance in Latin America, said:
"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."
The cards require a valid national identity card with local crypto exchanges already having this requirement when they issue a credit card. Even though there have been problems, Argentina may still look to crypto.
These new cards will help crypto users control and manage their crypto assets. This is a big step toward spreading crypto and Argentina seems to be an excellent place to start the journey with these new credit cards.