Ripio Launches Prepaid Crypto Debit Card in Brazil
Latin American crypto company Ripio has started rolling out a prepaid debit card in Brazil that allows payments to be made in cryptocurrency and earns cashback rewards in bitcoin, according to Ripio CEO Sebastian Serrano.
The company hopes to release 250,000 cards, which were developed in partnership with Visa (V), by the end of the year, offering the product to the one million users it has in the South American country, the company said, adding that the digital version of the card is already available.
The card will allow payments using Brazilian reals and the 28 cryptocurrencies Ripio has listed on its platform, the company said. Serrano said Ripio is considering adding rewards in cryptocurrencies other than bitcoin (BTC).
The company also plans to launch the card in Argentina later this year, Serrano said, and is not ruling out rolling it out in other countries where the firm operates, such as Uruguay, Colombia, Mexico and Spain.
Ripio currently has 3.5 million users across Brazil, Argentina, Uruguay, Colombia, Mexico and Spain, according to Serrano. The company plans to start operations in Chile before the end of 2022, and to open offices in Peru, Ecuador, Bolivia and Paraguay next year, he added.
Serrano said Ripio is not ruling strategic acquisitions to accelerate its growth in Latin America, although he declined to give additional details.
(Source: CoinDesk)
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