Binance and Mastercard have launched a prepaid rewards card in Argentina to help people spend crypto on everyday goods in a country where the native currency suffers from one of the world’s highest levels of inflation.
The card will let users buy things and pay bills with Bitcoin and other cryptocurrencies, according to a Thursday announcement by Binance, the world’s biggest crypto exchange by volume.
Binance’s announcement added that the prepaid card will convert the crypto users hold on its app into fiat currency (US dollars or Argentine pesos) in real time at the point of sale. Users will also be able to get crypto cash back rewards of up to 8%.
#Binance teams up with @Mastercard to launch a new prepaid card in Argentina, bringing crypto payments into the region