Shiba Inu is expanding its utility in Argentina. This success is due to the successful pilot that Binance has done, in cooperation with Mastercard.
Shiba Inu conquers Argentina
The end of August was an important time for both the Binance exchange and the Mastercard payment network that cooperates with it. This is because a pilot program for the exchange’s card was launched, within Argentina. The card is expected to help its users to make everyday purchases, using cryptocurrencies.
The representatives of Binance themselves, write about their product in these words:
“The Binance card is part of the company’s ongoing efforts to further global adoption of cryptocurrencies in a tangible way.”
A few weeks ago, we reported on the steps the Shiba Inu developers have taken to make SHIB tokens available as part of the card’s operation. If you haven’t read about it yet, be sure to take a look at this article: “Binance Card adds support for Shiba Inu, enabling 60 million merchants to accept SHIB as payment”.
This thread has a follow-up. It turns out that Binance has also decided to add support for the Shiba Inu ecosystem, within Argentina.
Official announcements of Mastercard and Binance
This all-too-brief news appeared on Mastercard’s social media, as well as Shiba Inu. The official Twitter profile of the dog moment reports:
“Binance Argentina has added SHIB to the list of supported tokens for Binance cards issued in Argentina. You can now pay with SHIB at more than 90 million merchants worldwide. What’s more, get up to 8% cash back and zero fees on ATM withdrawals!”
In addition, Binance Card has launched a special promotion. The first 5,000 people who apply for the card and make transactions with it can receive a special reward. These will be BUSD tokens. Time for the task is limited and closes between September 12 and 30.
The unique importance of cryptocurrencies in Argentina
Argentina is a special country in economic terms. This is because it has struggled more than once with hyperinflation, which even led to the bankruptcy of the country. The current macroeconomic situation of the globe is therefore no surprise to the country’s residents. Hence, they are looking for ways to secure their funds when they are once again losing value dramatically. Cryptocurrencies, despite their high volatility, are considered a safe haven in the eyes of many citizens. Nearly 30% of the country’s population said they had bought or sold cryptocurrencies in a month. This is a percentage twice as high as that of the United States. So there is no doubt that this kind of situation is a big opportunity for SHIB.