Binance has announced the launch of a prepaid crypto card in Brazil in partnership with Mastercard Incorporated (NYSE: MA). The prepaid crypto card will be available to all Binance users in Brazil with a valid national ID and alow payments to be made with 13 cryptocurrencies, bitcoin, ether, Binance USD, etc. The card will charge a 0.9% fee per transaction involving crypto as it will over up to 8% in cashback with crypto and allow ATM withdrawals without fees. The product is at the testing phase and “will be widely available in the coming weeks,” a Binance spokesperson told CoinDesk. “Brazil is an extremely relevant market for Binance and we will continue to invest in new services for local users, as well as contribute to the development of blockchain and the crypto ecosystem in the country,” Guilherme Nazar, general manager of Binance Brazil, said in a press release. Brazil is one of Binance’s top 10 markets globally, according to its post.
“Brazilians are eager to use cryptocurrency beyond an investment asset,” Marcelo Tangioni, president of Mastercard in Brazil, said in the press release.