Mastercard CEO Says Credit Card Giant Is Working With Binance To Let Customers Make Crypto Payments

Mastercard CEO says that the credit card giant is partnering with digital asset exchange Binance to enhance crypto payments for everyday purchases.

CEO Michael Miebach says the financial services firm is working with the world's largest cryptocurrency exchange by volume to allow people to use their digital currency when making purchases from stores. Shops that accept Mastercard.

“We can unlock the full potential of blockchain technology as we make it more accessible + easier to use. One way we do that is by including crypto in everyday purchases. "

Miebach's statement comes as Mastercard and Binance launch the Binance Card in Argentina. & nbsp;

The card will allow domestic Binance users who have completed identity verification and have a national ID. eligible participants to make purchases and pay bills with cryptocurrencies, including Bitcoin (BTC) and Binance Coin (BNB)

As previously stated by Mastercard in a press release,

“Users can enjoy a seamless transaction where their crypto is converted to fiat currency in real time at the time of purchase, as well as earn up to 8% crypto cashback on eligible purchases and no fees* for ATM withdrawals.”

Argentina is the first country in Latin America to have the card, but Mastercard says it is planning to expand to more markets. Binance is also adding support for more cryptocurrencies.

The Binance Argentina Card is still in beta but it will be made widely available in the coming weeks.

Aug 25, 2022

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