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Binance Launches Pre-Paid Card with Mastercard in Brazil
January 30, 2023
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Latin America now has two countries with the Binance Card available, helping boost the connection between fiat and crypto in the region.
Binance x Mastercard Launch Card in Brazil
Binance has announced the launch of a pre-paid spending card in Brazil together with Mastercard. The partnership will seek to grow the connections between fiat and cryptocurrencies in the Latin American country and builds on the duo’s partnership announced last Summer.
The launch of the new pre-paid card will make Brazil the second country in Latin America to gain access to the Binance card after Argentina launched a card in the Summer of 2022, according to the Portuguese language blog announcement on January 30. Brazil was Binance’s second-largest market in Latin America in 2022, behind Argentina, and represents a strong audience for the world’s largest crypto exchange.
“Brazil is an extremely relevant market for Binance and we will continue to invest in new services for local users, as well as contribute to the development of the blockchain and the crypto ecosystem in the country,” said Guilherme Nazar, Binance's General Director for Brazil.
The new Binance card will support fourteen different cryptocurrencies and open payment access to 90 million global merchants in fiat. There will be a 0.9% conversion fee, 8% cryptocurrency cashback for qualified purchases, and zero ATM withdrawal fees.
“We believe that the Binance Card is a significant step to encourage the wider use of cryptocurrencies and global adoption, and the appetite of two Brazilians for innovation makes the country a large market for this launch,” Nazar added.
Binance continues to grow its presence in Latin America. The exchange recently joined two Latin American Financial Technology groups in Colombia and Argentina to continue its commitment to expanding in the region.
Brazil represents a major opportunity for Binance as well. The recent blog post details stats from Mastercard's New Payments Index 2022 that show how nearly half of Brazilians made crypto purchases before the report. That’s more than the overall global average!
“Brazilians are eager to use cryptocurrency in addition to an investment asset. Today we take an exciting step on our crypto journey, which brings together the strengths of our highly reliable global network and Binance's infrastructure to support consumer choice for their payments,” said Marcelo Tangioni, president of Mastercard in Brazil.
What is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
Website | Twitter | Discord | Telegram |
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Binance VIP Traders Informed of $4B Settlement Back in September
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December 1, 2023
The exclusive gathering took place at a luxurious Singapore night club in September, where attendees engaged with Binance executives and probed about the potential settlement.
Binance reportedly hosted an exclusive dinner for its most significant market makers in September. The gathering, held at a prestigious Singapore nightclub, was an intimate setting where select VIP traders gained insights into the impending $4 billion settlement with the U.S. Department of Justice, according to a recent report from Bloomberg.
The private dinner, organized for Binance's top traders, unfolded in the upscale 1880 members-only club. Attendees, consisting of market makers and traders, engaged in discussions with Binance executives about the company's legal challenges. The conversations revolved around the potential $4 billion fine, leaving attendees convinced that Binance could afford and would settle such a substantial amount.
Attendees' Perspectives
Reports suggest that attendees, after breaking into smaller groups, sought clarification on Binance's legal troubles. They left the dinner with a heightened expectation of the $4 billion settlement, emphasizing the significant financial impact it would have on the exchange.
Former CEO Changpeng Zhao was notably absent from the gathering, with the then-head of regional markets, Richard Teng, representing the company.
In response to the reports, a Binance spokesperson disputed certain aspects of the event's depiction while refraining from specifying the inaccuracies, as per The Block. This discrepancy in accounts raises questions about the transparency surrounding Binance's legal challenges and its communication with stakeholders.
Implications of the Settlement
Binance’s $4 billion settlement with U.S. authorities, including the Department of Justice, Department of the Treasury, and the Commodity Futures Trading Commission, marked one of the largest corporate settlements in U.S. history.
The resolution concluded a criminal investigation into allegations of money laundering and sanctions violations, settling many of Binance's legal troubles in the U.S. However, Binance.US and Changpeng Zhao still face a lawsuit filed by the U.S. Securities and Exchange Commission.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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