Visa has announced the launch of a series of crypto-enabled cards in partnership with several fintech startups in Latin America. The cards will allow users to conduct various transactions with cryptocurrency.
More and more global payment companies are showing interest in cryptocurrencies. Visa, one of the leading payment companies, announced last week that it has launched its first crypto-enabled cards in Latin America with the goal of enabling more people to use cryptocurrencies through its payment network.
For implementation, the company partnered with several startups in Latin America, including Lemon Cash and Satoshi Tango in Argentina, as well as other startups including Crypto.com, Alterbank, and Zro Bank in Brazil. The features that will be implemented in these new cards include paying with cryptocurrencies, buying cryptocurrencies through Visa-enabled crypto stores, as well as receiving refunds for purchases 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.”
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.”
Filomena Ruffa, general manager of Crypto.com for Latam, stated:
“Through our localized products and the expansion of our card program with cashback benefits of up to 5%, we are offering consumers and businesses in the region different ways to interact and transact with cryptocurrencies.”
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.