- An Overview of the Binance Card.
- On April 25, 2022, the company announced a new Binance card upgrade (2022-04-25).
- In Latin America, Cryptocurrency Remittances Prove Their Value.
Binance Card is now available in Argentina. This is according to the CEO and founder of bitcoin (BTC) and cryptocurrency exchange Binance, Changpeng Zhao. It is the first country in Latin America where this product arrives.
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Binance Card is a Visa debit card that allows users to spend their cryptocurrency holdings as fiat currency at merchants that accept Visa. Argentina is an important market for Binance due to the high adoption of cryptocurrency in the country.
With the Binance(BNB) visa card, every European resident will be able to spend cryptocurrencies like Bitcoin(BTC), Ethereum(ETH), Binance Coin(BNB), and other altcoins in over 50 million merchants worldwide. The card is available for order in Argentina from today.
The Binance card provides for cryptocurrency cashback as well, with users receiving up to 8% back in Binance Coin when they swipe the card.
This is a big step forward for cryptocurrency adoption, as it makes spending crypto much more convenient and user-friendly. For Binance, this move will help them gain a stronger foothold in the Argentine market. It will be interesting to see how this plays out and whether other exchanges will follow suit with their own crypto debit cards.
According to the World Bank of Latin America, the formal remittances market is around 96 billion USD. Moneygram and Western Union, for example, may have hefty fees, bad exchange rates, limited office hours, long transmission periods, and daily exchange restrictions.
Cryptocurrency remittances have been organized on messaging platforms like WhatsApp and telegram and have started to grow in popularity.
Binance has been one of the biggest supporters of cryptocurrency adoption and its use cases. The launch of the Binance card in Argentina is another example of this commitment. It will be interesting to see how this plays out and whether other exchanges will follow suit with their own crypto debit cards.
In related reports, the Binance refugee card helps 70,000 Ukrainian refugees. The card allows them to access vital services and receive aid in the form of cryptocurrency. This is a big step forward for cryptocurrency adoption, as it makes spending crypto much more convenient and user-friendly. For Binance, this move will help them gain a stronger foothold in the Argentine market. It will be interesting to see how this plays out and whether other exchanges will follow suit with their own crypto debit cards.
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