Payment News

Addressing a Key Crypto Challenge

One of the major challenges for cryptocurrencies is that they are relatively easy to buy but selling them is much harder. It is, theoretically, big news therefore that Binance is to launch a pre- paid payment card that allows people to convert their cryptocurrency holdings into fiat currency at Mastercard terminals around the world.

This initiative is currently limited to existing Binance users in Argentina so long as they have a valid national ID, but a worldwide roll out is planned.

The cryptocurrencies are converted to fiat currency in real-time at the point of purchase. They can earn up to 8% in crypto cashback on eligible purchases and don’t pay any fees on ATM withdrawals.