TL;DR
Visa launches Crypto card in Latin America.
Earlier in 2017, Visa introduced TokenCard, an Ethereum based Visa debit card. In the same year, Visa Tested B2B Transactions for cross-border payment via Blockchain.
Global companies are showing interest in cryptocurrency, Recently Visa has launched a series of crypto-enabled cards in partnership with several fintech companies from Brazil and Argentina.
Visa has worked with several startups, including Lemon Cash and Satoshi Tango in Argentina and Crypto.com, Alterbank, and Zro Bank in Brazil. These cards will allow users to buy, purchase, spend, and receive crypto where Visa cards are accepted. Senior Vice President of Products and Innovation for Visa Latin America, Romina Seltzer, said,
“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”.
Why this step?
Cryptocurrencies and Digital Assets are emerging with time and Visa has always looked forward towards upgrading its network. Visa is connecting with more blockchains to enhance and ease the use case of cryptocurrencies for the users. Crypto cards work the same as any other Debit and Credit cards.
This card also includes Cashbacks.
After making a purchase with a Visa card, these cards will enable customers to collect cryptocurrency rewards from various financial partners and these cards are ready to roll out. For every Bitcoin purchase made with a Visa card, Lemon Cash will give its customers 2% cash back. Similarly, Crypto.com will also provide customers and businesses with up to 5% cashback.
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