Binance, Mastercard Tie Up To Enable Payments In Cryptos Like Bitcoin, Ethereum, Dogecoin At 90M Stores
Benzinga
Published Aug 24, 2022 01:52
Updated Aug 24, 2022 02:40
Binance, Mastercard Tie Up To Enable Payments In Cryptos Like Bitcoin, Ethereum, Dogecoin At 90M Stores
Payments giant Mastercard Inc (NYSE: NYSE:MA) is now working with the world’s largest cryptocurrency exchange Binance to enable crypto payments in 90 million stores.
What Happened: “We can unlock the full potential of blockchain technology when we make it easier to access + easier to use,” said Mastercard CEO Michael Miebach in a LinkedIn post on Tuesday.
“One way we do that is by bringing crypto to everyday purchases. To make that a reality, we’re working with Binance to let people to use their crypto to make purchases at 90m+ stores that accept Mastercard.”
Binance Card pilot starting in Argentina. Details here: https://t.co/UbAONYcJ3jMiebach said that the firm is launching these efforts in Argentina and plans to expand further from there.— Michael Miebach (he/him/his) (@MiebachMichael) August 23, 2022
Earlier this month, Binance and Mastercard said they had partnered to launch a prepaid card in Argentina that would bridge cryptocurrencies and day-to-day purchases.
The Binance Card was issued by Credencial Payments and allows users in the region with possession of a national ID to make purchases and pay bills with cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE) and Binance Coin (CRYPTO: BNB).
The users’ cryptocurrency will be converted into fiat currency in real-time at the point of purchase. The card will also let users earn 8% in crypto cashback as well as zero fees on ATM withdrawals.
See Also: BEST CRYPTO CREDIT CARDS
Price Action: The cryptocurrency market saw a 2.32% rise over 24 hours to $1.04 trillion. At press time, BTC was trading at $21,535 and ETH was trading at $1,661, according to data from Benzinga Pro.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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