Top-tier crypto exchange Binance has reportedly forged an alliance with Mastercard to introduce a prepaid card for the residents of Argentina.

Specifically, Binance reportedly revealed that the card will make it possible for its Argentina-based customers to carry out purchases enabled by Bitcoin (BTC), BNB and other cryptocurrencies, together with ATM withdrawals in fiat wherever has Mastercard in its payment options – approximately 90 million merchants globally and online. 

Argentine cardholders are reportedly also able to earn a maximum of 8% back in cryptocurrency from particular purchases.

Per Binance, the roll-out of the card – with expectations to be “widely available in the coming weeks” – was reportedly included in the scope of the firm’s attempts at fast-tracking the adoption of crypto at an international scale. 

Residents living in Argentina will reportedly be the pioneering demographic in the area to tap into access to the cards, but the crypto exchange disclosed a similar project targeted for Binance users in Ukraine in April and for the European Economic Area in 2020.

“Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow. By using the Binance Card, merchants continue to receive fiat and the users pay in cryptocurrency they choose.” Maximiliano Hinz, general director of Binance in Latin America, additionally remarked. 

The card will reportedly make it mandatory for Argentines to possess a valid national identity card, also known as documento nacional de identidad. The same kind of requirements have already been rolled out for credit cards issued by local crypto exchanges. 

Last year, Lemon Card reportedly introduced a card with Visa offering 2% back in BTC for Argentine users while Buenbit and Belo both teamed up with Mastercard to introduce a prepaid card and a crypto rewards card, respectively.