Binance Returns to Brazil with Mastercard Crypto Card After 2023 Pullback

Binance Card: Binance on Wednesday relaunched its Binance Card in Brazil, saying the product is available to eligible users from Oct. 1, 2025.

In Brazil, the Binance Mastercard will enable on-the-fly conversion of crypto to local currency at checkout and acceptance at more than 90 million Mastercard merchants globally. It will support assets listed in Binance’s product pages including major coins such as BTC, ETH and BNB alongside stablecoins and select altcoins.

This marks crypto exchange’s second attempt to foray its card into the Brazilian market after it first launched its Binance Card in Brazil on January 30, 2023. However, the card program was pulled in late-Aug/Sept 2023 after Mastercard and Binance ended their co-branded card programmes in several markets. Even though neither firm gave a detailed public reason, the move came amid heightened regulatory scrutiny of Binance globally.

Excited to announce the launch of the Binance Mastercard in Brazil!

Upholding our users at the center of our decisions, now millions of users in Latin America's largest country can seamlessly spend their crypto anywhere Mastercard is accepted.

Earlier this year, we had… pic.twitter.com/YrrG9mk2qZ

— Richard Teng (@_RichardTeng) October 1, 2025

Binance Card in Brazil

The announcement was flagged on social media by Binance CEO Richard Teng, who described the launch as part of the exchange’s effort to put users “at the center” of product decisions and expand on- and off-ramp options for Latin America’s largest economy.

Also Read: Kalshi Founder Reveals the Most Profitable Vertical for Prediction Markets

According to Binance’s product notice, the card links to users’ Binance wallets so crypto balances can be automatically converted to local currency in real time when making purchases. The card is accepted wherever Mastercard is supported, instantly broadening spending options for holders of Bitcoin, BNB and other supported tokens. Binance also highlighted perks such as cashback rewards and in-app card management tools.

The launch follows earlier payments moves by Binance in Brazil – including integration between Binance Pay and Pix, Brazil’s instant-payments rail. These products, according to the exchange, “set the groundwork for smoother crypto-to-reais flows across the market.”

Also Read: Google Cloud and Midnight Partner Together

Broader Crypto Landscape

Binance as identified Brazil is among its “top ten markets” as it becomes the second country in Latin America to have Binance Card – following its release last year in Argentina.

This also comes as the nation is embracing Bitcoin mining as a way to absorb chronic electricity oversupply. Several projects are under negotiation at local plants reporting up to 70% excess output. Similar to Laos, the country is leveraging miners to make use of abundant hydropower and stabilize the grid.

Brazil is the fifth largest country by crypto adoption in the world and the largest in Latin America, according to the 2025 Global Adoption Index. The country ranks the same position for both retail and institutional investors. Crypto adoption in Latin America as a whole rose 63% in 2025, making it one of the fastest growing regions. Thus, the launch of Binance Card could further accelerate that adoption.