Binance Card arrives in Argentina: what is it for and how to order the card from the largest cryptocurrency exchange in the world

The platform for buying and selling cryptocurrencies Binance announced its official landing in Argentina. Its CEO and founder, Changpeng Zhaowas in charge of confirming the launch your credit card in the country.

“Binance Card is now available in Argentina”, the Sino-Canadian businessman, which ranks among the 20 richest on the planet.

The card, which is characterized by the use of cryptocurrencies, can be used like all the others in authorized stores, physical or virtual, which accept master card. A previous step to use it is to have an account registered in exchange.

User can keep cryptocurrencies in the Binance virtual wallet and the platform does the automatic conversion into FIAT moneypointed to the site Cryptocurrencies.

On the other hand, they point out that plastic provides a cryptocurrency refund Up to 8% BNB for every purchase made: “All refunds on eligible purchases are automatically deposited into your wallet of funds, so all you need to worry about is spending your cryptocurrencies.”

Since 2020, the exchange offers this card in Europe, which allows Binance users to spend their cryptocurrency balance on more than 60 million merchants worldwide. Furthermore, the conversion into FIAT money takes place automatically after each transaction made with the debit card.

However, Binance acknowledged that the decision to extend its plastics to other countries in the region is not purely and exclusively up to them, but need for business partners to enable operability.

“The card, whether you like it or not, is one regulated product. Obviously, this requires some negotiation with external suppliers. We hope to be able to launch it at some point in Latin America “, concluded dal exchange.

Binance receives an economic sanction in the Netherlands

Cryptocurrency trading platform Binance has accepted the € 3.3 million fine imposed by the Central Bank of the Netherlands for operating for nearly two years without the relevant permits in the country, and has stated that it will continue to look for a way to operate in that European region.

“The decision marks a long-awaited development in our ongoing partnership with the Dutch Central Bank,” Binance said in a statement.

And he specified: “Even if we do not share the same opinion on all aspects of the decision, we deeply respect the authority and professionalism of the Dutch regulators to enforce the regulations as they see fit”.

In this regard, he indicated that “Binance has already reached an important milestone in meeting Dutch regulatory requirements by applying for registration as a cryptocurrency service provider, through a locally established entity, Binance Nederland BV”.

He also pointed out that “this has been a crucial step as Binance continues to mature and expand in Europe as a more traditionally regulated financial technology”.

“This is the result of Binance’s more proactive engagement strategy with global regulators, which in recent months has also fueled recent approvals in stringent regulatory environments such as France, Italy and Spain,” the company noted.

SL