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According to the Ukrainian National News Agency: In the past 24 hours, Russian casualties on the Ukrainian battlefield increased by 1,250.On May 31, Denis Pushilin, governor of the Donetsk Peoples Republic of Russia, told the Russian Satellite News Agency that although the Ukrainian army has sent additional reserve forces to the "most vulnerable" sections of its front line, such as Krasnoyarsk (called "Pokrovsk" in Ukraine) and Chasov Yar, the Russian army is cutting off the Ukrainian armys supply lines in multiple directions in the republic.According to Irans Mehr News Agency: A Ukrainian drone launched an attack on Russias Kursk region, injuring 10 people.On May 31, Moodys Ratings said it had downgraded the Brazilian governments rating outlook from "positive" to "stable" and said it expects interest payments on Brazilian government debt to rise. Moodys said the change in outlook reflects "reducing upside credit risks due to a clear deterioration in debt affordability and, despite adhering to the basic balance target, slower-than-expected progress in addressing spending rigidity and building credibility around fiscal policy". Brazils real GDP growth remains strong, but rising inflation and inflation expectations have led the central bank to re-tighten monetary policy. Moodys said that because the Brazilian governments debt structure is sensitive to interest rate changes, interest payments will increase significantly, resulting in higher overall fiscal deficits and debt accumulation than previously expected. At the same time, Moodys also confirmed Brazils long-term local and foreign currency issuer ratings and senior unsecured bond ratings at Ba1.May 31st news, recently, the European Commissions Commissioner for Climate Action Wopke Hoekstra told representatives of member states that the European Commission will propose an emission reduction target on July 2, proposing to reduce the EUs net greenhouse gas emissions by 90% from 1990 levels by 2040, and provide flexibility on how countries can achieve this goal, including allowing member states to use flexible measures such as international carbon credits to achieve the goal. For example, EU countries can pay for foreign emission reduction projects and count the emission reductions they achieve into EU countries. Germany, France and Poland have expressed support for this proposal, but critics have warned that the use of carbon credits will undermine the EUs efforts to decarbonize the economy by the middle of the 21st century.

Binance and Mastercard to Launch Prepaid Card in Inflation Battered Argentina

Jimmy Khan

Aug 05, 2022 14:50

On August 4, Binance announced a partnership with Mastercard (MA) to launch the "Binance Card" in the economically troubled country of Argentina.


The prepaid card aims to bridge the gap between cryptocurrencies and conventional transactions, claims the statement. It was also mentioned that Argentina was the first country in Latin America (LATAM) to receive the items.


Binance Card is the company's most recent effort to broaden the use of bitcoin and electronic payments, but it is still under development.

Worldwide Payments Using Crypto Cards

Everyone in the country who has a valid national ID card may conduct bitcoin transactions and pay bills using the Credencial Payments credit card. More than 90 million physical and online Mastercard companies will accept the card globally.


The retailer will get a real-time fiat conversion of the bitcoin balance on the card. Additionally, cardholders may get up to 8% in bitcoin cashback on certain purchases, as well as 0% ATM withdrawal costs. Users may see and manage transactions and payments via the Binance website and mobile app.


According to Walter Pimenta, Executive Vice President of Products and Innovation at Mastercard Latin America, the company's "operation with digital currencies builds on our robust basis to give choice and peace of mind when clients buy and pay."


Payments are one of the first and most obvious uses for cryptocurrencies, but Maximiliano Hinz, general director of Binance in Latin America, said that adoption still has a lot of room to grow.


As Argentinians deal with increasing inflation and increased living costs, the decision was reached. 


According to Trading Economics, the country's astonishing 64 percent inflation rate in June was among the highest in the whole world. 90 percent is predicted to be reached by year's end.


Many people have already begun to hold dollar-pegged stablecoins like Tether (USDT) and Circle's USDC in order to hedge against the Peso's fast devaluation. Since this time last year, the Peso's value against the US dollar has decreased by more than a third. As a result of increased demand, stablecoins are more costly on Argentine exchanges.


The president of Argentina has swore in three new economics ministers in the last month. Sergio Massa has pledged to stop the excessive money creation that fuels inflation.

Markets for cryptocurrencies grow

The cryptocurrency markets have stayed steady over the last 24 hours, with a little dip in total capitalization to $1.1 trillion. Since their seven-week and weekend highs, the market has lost over $50 billion.


In response to the announcement, the BNB token on Binance performed strongly, bucking the daily fall with a gain of 2.5 percent and climbing back to levels above $300. BNB has fared considerably better than its rivals during the crypto storm, having "only" lost 55 percent of its value from its peak in May 2021.

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