One of the largest cryptocurrency exchanges globally Binance revealed its latest venture, the launch of a prepaid cryptocurrency card in Colombia.

This marks the third country in Latin America to have access to the Binance crypto card, joining Argentina and Brazil.

According to a press release, the card will enable the real-time conversion of digital assets into fiat at the point of sale and will be accepted by more than 90 million merchants worldwide and online.

The implementation of the prepaid crypto card is part of Binance's efforts to connect the growing crypto ecosystem with traditional financial infrastructure.

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Colombia, being one of Binance's top markets, is a country with high levels of cryptocurrency adoption.

Binance stated the card is currently undergoing beta testing and will have a more extensive release soon.

The prepaid crypto card, which is issued by Movii, enables both new and existing Binance users in Colombia to make purchases and pay bills with cryptocurrency.

The card offers users a seamless transaction experience, allowing their digital assets to be converted into fiat in real-time at the point of purchase.

In addition, users can receive up to 8% cashback in crypto on select purchases and enjoy no fees on ATM withdrawals.

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