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Binance Expands Crypto Payment Options with New Prepaid Card in Colombia

Key Takeaways
  • Binance has launched a new prepaid card in Colombia
  • The card allows users to make purchases with cryptocurrencies at any merchant that accepts Mastercard
  • The card can be topped up using Binance's platform and supports four cryptocurrencies: Bitcoin, Binance Coin, Binance USD, and Swipe Token
11-Mar-2023 By: Simran Mishra
Binance Expands Cryp

Binance Introduces New Payment Option for Cryptocurrency Holders in Colombia

Binance, the largest crypto exchange platform by trading volume, has taken another step towards the mainstream adoption of cryptocurrencies by launching its prepaid crypto card in Colombia. 

The South American country now joins Argentina and Brazil in having access to the impressive product that allows for the real-time conversion of digital assets into fiat at the point of sale.

With more than 90 million merchants accepting the card across the globe, Binance's prepaid crypto card offers an exciting new way for users to use their crypto holdings for everyday purchases. The card, currently in beta testing, is issued by Movii and enables both new and existing Binance users in Colombia to make purchases and pay bills using their digital assets.

"The prepaid crypto card is part of Binance's ongoing effort to bridge the growing crypto ecosystem with traditional financial infrastructure," the press release stated. With high levels of crypto adoption in Colombia, the country is seen as one of Binance's top markets, making it the perfect choice for the next launch of the prepaid crypto card.

In addition to the real-time conversion of digital assets into fiat, users of the prepaid crypto card can also enjoy up to 8% cashback in crypto on certain purchases and no fees on ATM withdrawals. This makes the card an attractive proposition for anyone looking to use their crypto holdings in a more convenient and accessible way.

Binance's move into Colombia is just the latest step in the platform's ongoing mission to bring cryptocurrencies to the mainstream. By expanding the availability of its prepaid crypto card to new markets, Binance is helping to make it easier for people to use their digital assets for everyday transactions. 

With the crypto ecosystem continuing to grow at an impressive rate, it seems likely that Binance's prepaid crypto card will become an increasingly popular option for users around the world in the coming months and years.

Also read - Amidst the SVB Collapse, Is it Worth it to Invest in USDC?

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