Mastercard, Binance launching prepaid card in Brazil

SAO PAULO (Reuters) – Mastercard Inc and Binance said on Monday they are lauching a prepaid card in Brazil, Latin America’s largest economy, as part of the crypto giant’s efforts to “broaden the connection between traditional finance and crypto”.

According to a statement, the so-called Binance Card is currently in beta testing and should be widely available in the next few weeks, making Brazil the second country in Latin America to receive it after Argentina.

Brazil is one of Binance’s ten-largest markets, the crypto said, adding that the prepaid card will all new and existing Binance users in the country to shop and pay bills with cryptocurrencies at Mastercard merchants.

(Reporting by Andre Romani; Editing by Steven Grattan)