Mastercard Inc. and Binance crypto exchange firm announced their partnership to release a prepaid card in Brazil. The companies said on Monday, Jan. 30, that they will release a crypto card that will let users pay using any of the 13 cryptocurrencies, such as Bitcoin (BTC), Binance USD, and Ether (ETH).

Mastercard and Binance said that the rollout of the new crypto prepaid card is part of the latter’s plan to expand the link between cryptocurrency and traditional finance. It also appears that Brazil was chosen because it has the largest economy in Latin America.

The prepaid card has been named “Binance Card”, and as per Reuters, it is currently in beta testing. It is expected to be available within the next few weeks. With the upcoming release, Brazil has become the second nation in Latin America to have the crypto card after Argentina.

Once the card is activated, all Binance cardholders will be able to manage their cards via the dashboard on the company’s website or App. it will now be easier for customers to view their transaction history, plus they will also enjoy easy access to customer support.

In partnership with Mastercard, Binance Card users will be able to shop and pay bills using cryptocurrencies. As long as the stores honor the Mastercard, Binance clients are allowed to transact with more than 10 supported crypto tokens.

“Brazil is an extremely relevant market for Binance and we will continue to invest in new services for local users, as well as contributing to the development of the blockchain and crypto ecosystem in the country,” Binance for Brazil’s general manager, Guilherme Nazar, said in a press release.

He added, “Payments are one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. We believe the Binance Card is a significant step in encouraging wider crypto use and global adoption, and the openness of Brazilians to innovation makes the country a great market for this release."

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