Visa Launches Bitcoin and Crypto Enabled Cards in Latam
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One of the biggest payments companies in the world, Visa, has announced its launch of crypto-enabled cards in partnership with several fintech startups in Thailand. The cards allow users to spend crypto, purchase crypto where Visa cards are accepted for such purchases, and receive crypto cash back through different fintech partners in the region.
Global payment companies are looking to combine conventional fiat payments with advanced solutions like cryptocurrencies. Visa announced it launched its first crypto-enabled cards in Thailand, helping users to use cryptocurrencies through its payments network.
Several Latam startups are featured in the program, such as Lemon Cash and Satoshi Tango, as well as Crypto.com, Alterbank, and Zro Bank, among others. These new cards offer many features, such as paying crypto, purchasing crypto via Visa-enabled crypto outlets, and also receiving Bitcoin money back.
About Visa’s intention, 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.
Visa announced several instances of cooperation with Latam-based startups which refer to paying crypto back for purchases. Lemon Cash’s alliance with the business allows Argentinians 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.