Cryptocurrency exchange platform Coinbene has entered into a partnership with Mastercard to launch a new crypto payments card.
The crypto-card will be initially rolled out in Brazil in September this year, the company noted in a blog post. It will come in two variants- Gold and Platinum, targeted for separate audiences.
With the new offering, the cardholders will be able to carry out all usual transactions including cash withdrawals, bill payments and direct fund transfers.
The Coinbene card will come with an app that will allow the customer pay their monthly bills. The app will also enable them to track their balances and receive cash back.
They can make deposits directly from their CoinBene account or through bank transfers and a ticket. It supports fund transfers through QR code scans.
Furthermore, the CoinBene Card customer can withdraw money from traditional ATMs and other establishments designated as ‘Friendly Withdraw’. Brazil has 15,000 such Friendly Withdraw places.
Coinbene also noted that the card will be integrated with WeChat to offer additional services.
CoinBene Brazil CEO Feng Bo said: “The CoinBene and MasterCard’s co-branded card will celebrate the 70th anniversary of the People’s Republic of China, targeting 300,000 Chinese Imigrantes in Brazil, as well as millions of Brazilian local users radiating from Chinese merchants.”
Recently, digital challenger bank Airfox partnered Mastercard to bolster affordable banking services footprint in Brazil.