Holders of Shiba Inu, Cardano and other cryptocurrencies supported by the Binance Argentina card can now use their assets to make their purchases and pay bills at over 90 million Mastercard merchants worldwide, both in-store and online.
Binance Card pilot starting in Argentina. Details here: https://t.co/UbAONYcJ3j— Michael Miebach (he/him/his) (@MiebachMichael) August 23, 2022
As was made known by Mastercard CEO Michael Miebach, the Binance card pilot has kicked off in Argentina. The Binance Card was previously introduced as part of a partnership between Binance and Mastercard to bridge the gap between cryptocurrency and regular purchases. At the time, it was stated that Argentina would be the first to have the product in Latin America.
The announcement by Binance to include XRP, SHIB and AVAX on the Binance Card was similarly welcomed. Fourteen cryptocurrencies, including BUSD, USDT, USDC, BTC, BNB, ETH, ADA, DOT, SOL, MANA, SXP, XRP, SHIB and AVAX, are currently supported by the Binance Argentina Card.
Crypto holders can now spend at 90 million Mastercard merchants
As stated on the Binance FAQ information page, all new and current Binance users in Argentina may use the Binance Card to conduct cryptocurrency-based transactions and pay bills at more than 90 million Mastercard merchant locations globally, both in-store and online. The Binance Argentina Card can be used anywhere in the world at any Mastercard merchant, it stated.
Users can benefit from cryptocurrencies instantly exchanged for fiat money at the point of sale, as well as from earning up to 8% in crypto cash back on eligible purchases and paying no fees for ATM withdrawals.
Cryptocurrencies as payment methods are gaining increasing traction. As reported by U.Today, Shiba Inu holders of other cryptocurrencies supported by BitPay can now spend their assets to purchase electronics, computers, appliances, cell phones, video games and more at the top U.S. consumer electronics retailer, Best Buy, via BitPay gift cards.
From luxury watchmakers such as Tag Heuer, Hublot and Breitling, to fast food delivery companies such as Ubereats, the acceptance of cryptocurrencies as payments continues to grow.