According to a recent tweet by Polygon, Binance Card is now offering Polygon’s MATIC in Argentina. This opens up a whole new universe of potential, which is fantastic for those who want to use their cryptocurrency to make purchases.
A prepaid card with up to 8% cash back on purchases, the Binance Card is accepted by 90 million shops globally. ATM withdrawals are likewise free of charge. Unquestionably, this significant advancement for MATIC will boost adoption. This is also good news for Binance, which wants to increase its market share in Argentina. Users may simply spend their cryptocurrency with the Binance Card, making it a more alluring option.
Use your cryptocurrency in the real world with the help of the Binance Argentina Card. It enables the conversion and use of many cryptocurrencies, including USDT, USDC, BTC, BNB, ETH, ADA, SOL, and MATIC. You can make purchases and pay bills with this card directly in cryptocurrency, lowering your exposure to the falling peso. The digital currency is instantly translated into other fiat currencies when a payment is made with the Binance Card, and all fees and commissions are automatically subtracted.
Your $MATIC can now be used to make purchases at 90MN+ merchants in thousands of stores around the 🌏
— Polygon – MATIC 💜 (@0xPolygon) September 15, 2022
Maximiliano Hinz, general manager of Binance Latin America, claims that although payments are one of the earliest and most obvious uses for cryptocurrencies, adoption still has a long way to go. Customers use the Binance Card to pay with the cryptocurrency of their choice, while merchants continue to accept fiat money.
Binance joins Argentina’s Crypto Prepaid cards boom
In collaboration with Mastercard, the major cryptocurrency exchange Binance has introduced a cryptocurrency prepaid card in Argentina, the business revealed on August 4. According to Binance, which is led by CEO Changpeng Zhao, the product is currently in beta testing and will be broadly accessible in the upcoming weeks. Access will be granted to all exchange customers in Argentina who have a valid ID.
Global Mastercard-accepting physical and online retailers will accept cryptocurrency payments for purchases and bill payments from cardholders. At the point of sale, crypto will instantly be converted to money. Additionally, customers can get back up to 8% in cryptocurrency. The first country in Latin America to introduce a Binance crypto card is Argentina. In August 2020, the company launched a comparable offering in the European Economic Area.
With 1.3 million customers, Lemon Cash launched a crypto card with Visa in December that offers a 2% reward. Earlier in 2021, the exchange Buenbit, which has 700,000 members, teamed up with Mastercard and the online wallet BKR to create a card. Belo started providing its 170,000 clients a card with cashback ranging from 2% to 21% last year after partnering with Mastercard.
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