Cryptocurrency exchange Binance partners with Mastercard to launch cryptocurrency payments

Payment giant Mastercard Inc is partnering with Binance, the world’s largest cryptocurrency exchange, to launch cryptocurrency payments in 90 million stores.

«We can unleash the full potential of blockchain technology when we make it easier to access and use,» Mastercard CEO Michael Meehan said on LinkedIn on August 23. «One way we can do that is by using cryptocurrency for everyday purchases. To make this a reality, we’re working with Binance. Now people will be able to use their cryptocurrencies to make purchases in more than 90 million stores where the Mastercard payment system operates.»

Users' cryptocurrencies will be converted into fiat currency when paying for goods using the Binance e-wallet. All transactions are fully automated, you just need to use the terminal. The card will also allow users to receive 8% cryptocurrency cashback, as well as zero ATM withdrawal fees.