Binance launches a payment card that enables users to convert their crypto holdings into fiat at Mastercard terminals worldwide
Binance & Mastercard introduce crypto-to-fiat payment card. Source: binance.com
As reported by Finextra, the card issued by Credencial Payments will allow Binance users to make purchases and pay bills with cryptocurrencies at over 90 million Mastercard merchants worldwide, both in-store and online. The service launches in Argentina and would work for customers with a valid national ID. Later, it will roll out to other markets.
Cryptocurrencies will be converted to fiat in real-time at the moment of purchase. Besides, cardholders can earn up to 8% in crypto cashback on eligible purchases. Furthermore, withdrawing cash at ATMs is fee-free.
Binance App and website would provide cardholders with a dashboard to manage their cards, view transaction history and access customer support.
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