What Does Binance and Mastercard Partnership Mean for Crypto? – BSC NEWS

What Does Binance and Mastercard Partnership Mean for Crypto? – BSC NEWS

Blockchain Crypto Market Technology
September 1, 2022 by Coinvasity
25
Binance and Mastercard partnered to bring crypto payments into daily life. The recent move may pave the way for cryptocurrencies to become more mainstream.Payments colossus Mastercard announced a partnership with Binance, the world's largest crypto exchange by trading volume, to enable crypto payments in 90 million stores.Previously, Binance launched the Binance Card in Argentina with
wp-header-logo-12.png

Binance and Mastercard partnered to bring crypto payments into daily life. The recent move may pave the way for cryptocurrencies to become more mainstream.
Payments colossus Mastercard announced a partnership with Binance, the world's largest crypto exchange by trading volume, to enable crypto payments in 90 million stores.
Previously, Binance launched the Binance Card in Argentina with Mastercard. With this partnership, Mastercard will launch cryptocurrency payment cards supporting 14 cryptocurrencies, including Tether, Bitcoin, Ethereum and BNB. Customers can also earn 1% to 8% in crypto-cash back and will pay no ATM fees.
Nevertheless, Mastercard may face stiff competition from its rivals in Latin America. As of now, Latin American crypto company Ripio provides prepaid debit cards that accept crypto payments and earn bitcoin cashback. Additionally, Visa announced in January that its users made $2.5 billion in crypto-linked payments in 2022. That was more than half of its total volume in all of 2021.
Considering the recent market conditions, crypto payments may seem unviable. Since the beginning of the year, Bitcoin’s price has dropped around 50%, while Ethereum and other top 10 cryptocurrencies have also fallen.
From another perspective, this may be the opportune time for Binance and Mastercard to launch the card.
Furthermore, both firms have huge markets, with Binance having about 30 million users and Mastercard having 1.46 billion cards in circulation. This may prove to be an important step in making crypto more accessible through payments. Binance CEO Changpeng Zhou (“CZ”) also expressed excitement about the recent development:
» ‘The Future Is Here’—Visa, Mastercard And Binance Are Suddenly Making Bitcoin, Ethereum, XRP, Solana, Cardano And Tether Payments A Reality https://t.co/EgFlDyKM5Y
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.

source

Add a comment