The Latin American crypto exchange Ripio has begun rolling out a prepaid debit card in Brazil that allows payments in cryptocurrency. Users can also earn cashback rewards in Bitcoin, stated Ripio CEO, Sebastian Serrano.
The company plans to launch 250,000 cards that were developed in collaboration with Visa by the end of the year. The offering would be accessible to the one million users it has in South America. The company already declared that the digital version of the card is already available.
With these debit cards, users can make payments in Brazilian reals and 28 cryptocurrencies that Ripio listed on its platform. Serrano said that the company is considering adding rewards in cryptocurrencies other than bitcoin (BTC).
Moreover, Riplo will launch the card in Argentina later this year but hasn’t ruled out launching the debit card in countries such as Colombia, Mexico, Spain, and Uruguay. The proposed crypto offering isn’t something new. Binance and Mastercard also launched a prepaid card in Argentina which is currently in its beta phase.
Ripio operates under its own brand and that of BitcoinTrade, a crypto exchange it acquired back in January 2021. Serrano also informed that by the end of 2022, BitcoinTrade will be renamed Ripio.
Also Read: MercadoLibre to launch its own crypto ‘MercadoCoin’ in Brazil
