Binance and Mastercard collaborate to bring cryptocurrency as a payment option at over 90m stores
- Binance and Master card collaborate
- Argentina, the chosen one
- Prepaid card launched in Argentina to test the use of cryptocurrency for payments of day-to-day essentials
- Cryptocurrency market to get boosted by this move
Binance and Master card integration, the best news you would want to hear as a crypto enthusiast!
Binance, the world’s largest cryptocurrency exchange, has gone ahead to collaborate with none other than one of the giants in the payment systems, Master Card. According to the CEO of Master Card, the collaboration between both the parties is surely to ignite the cryptocurrency market, and will also enable the users to experience the full potential of the blockchain technology. The news is sure to bring delight to all the crypto enthusiasts, as if the integration becomes successful, then cryptocurrency can be used as a payment option at over 90 million stores. To roll out the feature, both the parties have zeroed down at Argentina and then plan to expand the technology further.
Argentina, the chosen one!
Argentina is one of those countries, where cryptocurrency is highly demanded and has a high rate of investors. As a result, two of the giants of their respective industries want to try out their new payment option and find out how it fares in a more cryptocurrency supported country. Not only that, Binance and Mastercard plan to launch a prepaid card in Argentina, to bridge the gap between the use of cryptocurrency as payments for day-to-day essentials.
Let’s look at the tweet put up by the CEO of Argentina about the launch of the prepaid card.
Binance Card pilot starting in Argentina. Details here: https://t.co/UbAONYcJ3j
— Michael Miebach (he/him/his) (@MiebachMichael) August 23, 2022
Essentially, the card will work by converting the cryptocurrencies to fiat currencies at the time of payment. The card is also going to give the users an added benefit of 8% cashback as well as zero fees on ATM withdrawals.
The integration’s impact on Cryptocurrency market
We all know that the cryptocurrency market has more or less been in a slump since the market crash. But, the news of the integration between Binance and Master Card is sure to bring in a lot of joy, trust for the investors. As a result, it was also noted that, the market was up by around 2% breaching the 1 trillion dollars mark. The news did impact the market immediately in a positive way.
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