Through its numerous advances and initiatives, the leading cryptocurrency exchange Binance has paved the way for cryptocurrency acceptance. The introduction of the Binance card, which enables users to utilize cryptocurrency for a variety of purchases, is one such initiative.
A law recognizing cryptocurrencies as valid payment options in Brazil was recently enacted. Prepaid cryptocurrency cards were jointly introduced in Brazil by Binance and Mastercard to make the bitcoin game easier for the country’s people.
The global cryptocurrency exchange has announced the arrival of the Binance card in Brazil in collaboration with Mastercard, according to the specifics. The card is now under beta testing as well and will be available to the general public in a few weeks.
The card, which is issued by Dock, enables existing and new exchange customers to utilize bitcoins to pay bills and make purchases at more than 90 million Mastercard outlets worldwide.
During the buying process, users of the exchange will also be able to convert cryptocurrencies to fiat money in real-time. Additionally, users will be able to receive 8% cash back in cryptocurrency. More than 15 cryptocurrencies, including BTC, ETH, BNB, BUSD, SHIB, MATIC, LINK, ADA, and others, are now supported by Binance Card for payments.
Binance Blocks Several Accounts: Bitzlato Case
Due to the Bitzlato probe, Binance, the largest cryptocurrency exchange in the world by market cap, has suspended many accounts. Numerous users, many of whom speak Russian, reported the problem. In a Telegram group conversation, the impacted users complained about the issues and claimed that the accounts had been abruptly terminated. Over 1000 people are now a part of the organization.
The aggrieved users contrast the limits with the punitive action taken by the US Department of Justice against the cryptocurrency firm Bitzlato. Furthermore, a lot of people acknowledge using Bitzlato for both incoming and outgoing transactions between Binance and Bitzlato.
A spokesman for the exchange confirmed to local media that the current account blocking was connected to the Bitzlato case. The cryptocurrency exchange also suggested that users read Binance’s blog post on the various reasons why their account can be deactivated as well as what to do in such a situation.