Mastercard, Binance prep on launching prepaid cards in Brazil

Mastercard Incorporated and Binance have said they are launching a prepaid card in Brazil, Latin America’s largest economy, as part of the crypto giant’s efforts to “broaden the connection between traditional finance and crypto”.

According to a statement, the Binance Card is currently in beta testing and should be widely available in the next few weeks, making Brazil the second country in Latin America to receive it after Argentina.

Brazil is one of Binance’s ten-largest markets, the crypto said, adding that the prepaid card will allow new and existing Binance users in the country to shop and pay bills with cryptocurrencies at Mastercard merchants.