Latin American Crypto Exchange Bitso and Mastercard Launch Debit Card in Mexico
• Bitso, a leading Latin American crypto exchange, launched a debit card in Mexico in partnership with Mastercard.
• The exchange has enabled the card for over 100,000 users who had requested the card in Mexico.
• The launch of this debit card is part of Mastercard’s portfolio of crypto partnerships in Latin America which includes Binance, Belo and Buenbit.
Bitso’s Expansion across Latin America
Bitso is a leading cryptocurrency exchange operating across Latin America. It has enabled its debit card for over 100,000 users who had requested it in Mexico. In addition to Mexico where it started, Bitso also operates in Argentina, Brazil and Colombia with a total of more than 6 million users and 1,500 institutional clients. In September 2022, Bitso enabled its users in Argentina to make QR code payments using Argentine pesos, digital dollars, bitcoin, ether and DAI.
Mastercard’s Portfolio of Crypto Partnerships
The launch of this debit card is part of Mastercard’s portfolio of crypto partnerships in Latin America which includes Binance, Belo and Buenbit. Although Mastercard was reported to be taking a step back from the crypto space recently; the company still intends to “work with partners to bring relevant payments solutions and programs to market”. Visa also said that its plans with crypto continue despite the winter season.
Advantages Offered by Bitso Card
Bitso Card offers many advantages such as being able to use MXN from one’s wallet to pay for everyday expenses such as groceries or restaurant bills etc., without needing any cash or credit cards anymore. This makes it easy and convenient for people living in Mexico who may not have access to traditional banking services due to various reasons such as income levels or geographic location etc., thereby providing them financial inclusion too!
This move by Bitso will prove beneficial for both companies as well as their customers as it provides an easier way for people living across Latin America countries such as Mexico to access cryptocurrency services without having any traditional banking systems available at hand. And with more partnerships like these coming up between exchanges and payment networks; we can definitely expect more innovation within the industry soon!