Binance Prepaid Card Now Available in Colombia

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Colombia has one of the highest adoptions of Bitcoin (BTC) and cryptocurrencies in Latin America. For this reason, it is logical for exchanges like Binance to decide to expand their product offerings in the South American country, in this case the purchase of Crypto assets using prepaid cards at more than 90 million businesses worldwide.

According to CriptoNoticias, Bitcoin has emerged as an alternative for Colombians looking to protect themselves from the devaluation of their national currency and inflation, which has risen suddenly since last year.

According to an article published on the Binance website, Colombia has become the third country in Latin America to have prepaid cards, after Argentina and Brazil. The purpose of the exchange launched this time is to promote the adoption of cryptocurrencies in the region and facilitate the integration of traditional and decentralized finance.

As one of the world leaders in crypto adoption, Colombia is a very important market for Binance. We believe that offering the Binance Card will encourage wider adoption of cryptocurrencies among Colombians, contributing to the development of the blockchain and cryptocurrency ecosystem in the country, while also bringing cryptocurrencies closer to the daily lives of millions of people. An important step has been made.

Binance Columbia general manager Daniel Acosta.

All Binance users in Colombia with a valid national ID can apply for the card through the app or on the exchange website.

Colombia's new currency card.

A Twitter thread on Binance announced the launch of its card in Colombia. fountain: Twitter.

When paying with a Binance Card at a point of sale, the selected cryptocurrency will be automatically converted to the national currency, in this case Colombian Pesos (COP). In the card control panel, users must choose any of 12 cryptocurrencies to pay, including bitcoin (BTC), ether (ETH), BNB, shiba inu (SHIB), XRP, solana (SOL), cardano (ADA), polkadot (DOT), polygon (MATIC), and chainlink (LINK).

There is a 0.9% conversion fee, and Binance claims it does not charge fees for ATM withdrawals. Earn up to 8% cash back on purchases that meet certain requirements.

The launch of the Binance Prepaid Card in Colombia was made possible thanks to a business alliance with Movii. It should be noted that the product is still in beta. The exchange plans to continue expanding its reach to other countries in Latin America and the rest of the world.

Source of information: Compiled from CRYPTONOTICIAS by 0x Information, the copyright belongs to the author, and shall not be reproduced without permission

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