Skip to main content

Visa Launches Bitcoin and Crypto Enabled Cards in Latam

visa

Visa, one of the biggest payments companies in the world, has announced the launch of a series of crypto-enabled cards in partnership with several fintech startups in Latam. These cards will allow users to spend crypto, purchase crypto where Visa cards are accepted for such, and also receive crypto cash back through different fintech partners in the region.

Visa Provides Fintech Partners With Crypto-Enabled Cards

More global payment companies are taking an interest in mixing conventional fiat payments with more advanced solutions like cryptocurrencies. Visa, one of the leading payments companies, announced last week that it launched its first crypto-enabled cards in Latam, with the idea of enabling more people to use cryptocurrencies through its payments network.

The company partnered with several startups in Latam, including Lemon Cash and Satoshi Tango in Argentina, and other startups including Crypto.com, Alterbank, and Zro Bank in Brazil. The functions that these new cards will feature include paying with crypto, purchasing crypto via Visa-enabled crypto outlets, and also receiving purchase cash back in bitcoin.

About the intention of Visa, Romina Seltzer, senior vice president of products and innovation for Visa Latin America and the Caribbean, stated:

The crypto ecosystem continues to gain momentum in the region with increased investment, more consumer adoption, and more crypto-enabled use cases, and we will continue to build on our strong strategy to build the future of crypto and payments for our customers, partners and consumers.

Specific Partnerships

Visa signaled several instances of cooperation with Latam-based startups that refer mostly to the case of offering cash back in crypto for purchases. This is the case of the company’s alliance with Lemon Cash, which enables Argentinian customers to enjoy the aforementioned feature. About this, Borja Martel Seward, Lemon Cash co-founder, stated:

In the context of Latin America, cryptocurrencies are a concrete solution to improve people’s lives. At Lemon we want to contribute to the cryptocurrency revolution throughout the region, and we offer a 2% cash back in Bitcoin for all purchases made with Visa credentials.

Crypto.com is offering similar cash back rewards to its customers in Brazil, but with a higher cash back bounty. Filomena Ruffa, general manager of Crypto.com for Latam, stated:

Through our localized products and the expansion of our card program with cash back benefits of up to 5%, we are offering consumers and businesses in the region different ways to interact and transact with cryptocurrencies.

Mastercard, Visa’s direct rival, has also shown interest in the Latam market, having inked a partnership with Mercado Libre, one of the biggest retailers in the area, to help it secure the transactions on its crypto exchange.

What do you think about Visa’s launch of its crypto-enabled cards in Latam? Tell us in the comments section below.



from Bitcoin News https://ift.tt/I9jnq7W
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more