Binance has launched a version of its crypto card in Argentina, indicating that it plans to expand the service in the region soon. This news was shared by the CEO of the exchange, CZ, who indicated the news to clients in one of the main countries that the platform operates in Latin America.
The use of cards to consume with cryptocurrencies is a way in which the platforms allow their clients to carry out the action with ease.
Although transactions with Bitcoinfor example, can be easily done from one point to another, between wallets, many cryptocurrency beginners are still looking for solutions that are easy to consume with said coins, even if they resort to centralized solutions.
Binance launches crypto card in Argentina and promises expansion in the region
Binance CEO CZ shared with his millions of followers on Twitter that he has now launched the exchange’s crypto card on Argentina.
“Binance Card now available in Argentina. Gently released for 7/7. It will roll out to the rest in the next week or so. More regions coming soon.
#Binance card now available in Argentina 🇦🇷. Soft launched to on 7/7. Will roll out to the rest next week, or so. More regions soon. #build
— CZ 🔶 Binance (@cz_binance) July 24, 2022
The arrival of this option in the country indicates that the exchange is aware of the serious moment that the Argentine economy is going throughpressured by inflation and a large loss of purchasing power with the local currency.
Last week, for example, the government asked the Central Bank of Argentina to regulate the exchange rate, which led to the ban on the purchase of dollars by those who own cryptocurrenciesan unusual measure in the country.
With the arrival of one more cryptocurrency consumption option, Binance shows that it wants to take advantage of the moment to increase its client base in the country, since many look to cryptocurrencies as a way to protect themselves from the collapse of the local currency.
The Binance CEO announcement also shows that the exchange plans to launch the solution in more countries in the region soon. One of them could be Brazil, a country that Binance Pay has already indicated that it wants to implement its solution.
What cryptocurrency cards are available in LATAM?
Although the cards are centralized solutions to consume with cryptocurrencies, indicating that the user must leave their coins in custody with a company, the solution is undoubtedly desired by some newcomers to the sector.
In this way, companies like Crypto.com They already release cards in some LATAM countries for consumption with cryptocurrencies.
Listed on the stock exchange, Méliuz allows customers who buy using its solution to obtain cashback in cryptocurrencies, a company that Alter acquired in 2021.
If confirmed, a probable arrival of Binance would arrive to intensify the dispute in the sector.
It is worth remembering that Visa has already expressed its interest in printing more cryptocurrency cards in LATAM, being open to alliances.