Supermarkets Dominate as Brazilians Embrace Cryptocurrency Payments, Reveals Binance Research
According to a recent announcement by Binance the go to cryptocurrency exchange Brazilians are going gaga for using crypto assets to pay for their supermarket purchases . Binance Card a handy rechargeable card that allows crypto transactions provided the data for this fascinating finding . But that's not all subscribing to streaming services and using transport apps also ranked high among the most popular use cases for crypto payments in Brazil .
According to a recent announcement by Binance the go to cryptocurrency exchange Brazilians are going gaga for using crypto assets to pay for their supermarket purchases . Binance Card a handy rechargeable card that allows crypto transactions provided the data for this fascinating finding . But that’s not all subscribing to streaming services and using transport apps also ranked high among the most popular use cases for crypto payments in Brazil .
Binance Card Makes Crypto Mainstream in Latin America
The Binance Card which proudly sports the trusted Mastercard brand has expanded its reach to three Latin American countries : Brazil , Argentina and Colombia . This nifty payment card lets users indulge in transactions involving thirteen different cryptocurrencies including the big players like Bitcoin (BTC) and Ethereum (ETH) as well as some fun tokens like the Santos fan token (SANTOS) . With a whopping 90 million establishments worldwide accepting it the Binance Card brings the best of both worlds the convenience of crypto and the familiarity of traditional currencies like the Brazilian Real (BRL) .
Crypto Payments Take Off in Transport Apps and Streaming Services
While Binance didn’t spill the exact beans on the proportions they did reveal that when it comes to the Binance Card Brazilians just can’t get enough of using it for supermarket shopping be it at massive retail chains or cozy corner stores . But wait there’s more Brazilians are also happily swiping their crypto for transportation services and subscriptions to streaming platforms . And guess what? Cafes and restaurants are also joining the crypto revolution making the list of prime spots where the Binance Card gets a well deserved workout .
Guilherme Nazar the bigwig Director General of Binance in Brazil summed it up nicely “The Binance Card brings together the world of cryptocurrencies and traditional finance seamlessly integrating crypto into people’s everyday lives . Whether you’re grabbing a loaf of bread from the local bakery treating your friends to dinner or hopping in a cab crypto is right there with you” He further emphasized Binance’s commitment to innovation and catering to the needs of their users .
Usage Trends in Other Countries
In Argentina the Binance Card has become a hit in markets cafes and restaurants . However retail stores take the crown when it comes to crypto payments . Additionally Argentinians are making the most of cryptocurrencies for their online shopping sprees and digital payments .
Colombian Binance Card users are following in the footsteps of their Brazilian and Argentinian counterparts . They prefer to whip out their crypto assets for payments at large retail stores with transportation services coming in at a close second . And yes cafes and restaurants are once again part of the crypto craze in Colombia .
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