James Atkins
Editor
Editor
Ripio, a crypto firm based in Argentina, has unveiled a new Visa card called the Ripio Credit Network Card. This prepaid debit card enables users to pay using cryptocurrencies and receive bonuses in bitcoin (BTC). Which can work with any merchant that accepts Visa payments.
The newly inaugurated Visa Card by Ripio will allow users, to use any of the twenty-eight cryptocurrencies that are available; on Ripio’s exchange platform.
Ripio’s Visa Card is one of many collaborations Visa has in Latin America. In June, Visa revealed that it collaborated with several crypto investors and neobanks to launch identical card products.
Bitcoin.com’s wallet and exchange services will also be integrated into Ripio’s platform, allowing users to buy, sell, and store cryptocurrencies directly from the app.
This move by Ripio is significant given that Bitcoin and cryptocurrency adoption is still in its early stages in Brazil. BTC’s use as a payment method is still mostly limited to online purchases and Peer-to-Peer (P2P) transactions.
However, with the launch of the Visa Card, Ripio is looking to change that. By giving BTC holders a way to spend their cryptocurrency in the real world.
The Ripio Visa Card is currently available for pre-order and will be shipped out in November. There is no annual fee for the card, but there is a 3 per cent fee for foreign currency transactions.
By the end of this year, Ripio plans to issue around 250,000 Visa Cards. In the long term, however, Ripio’s ultimate goal is to convince its 1 million Brazilian customers to make use of the Visa Card.
The Visa Card will either come as a physical plastic card. Just like the ones your bank issues or as a digital card that can be used on your smartphone.
With this credit card, users have the choice to pay with either cryptocurrencies or regular fiat currency.
No matter what the user chooses, they will receive a 5% BTC reward on all purchases made. However, rewards will not be distributed until late October and capped at $50 per month after that time.
Ripio has mentioned that it might offer rewards in altcoins in the future. The company is also planning to unveil its Visa Card in Argentina by the end of 2022.
Ripio’s Visa Card is designed to connect clients’ fiat and crypto wallets. Also, the card allows Bitcoin and other cryptocurrency holders to make use of their digital assets in day-to-day transactions.
Before this, BTC users had to go through lengthy processes to convert their Bitcoin into fiat before making purchases.
The firm’s CEO and co-founder Sebastián Serrano says, That their goal is to make it as easy as possible for Bitcoin holders to use their Bitcoin. He adds that the Ripio team is excited to be working with Visa on this product. Which will help bring Bitcoin one step closer to mass adoption.
Ripio is a Bitcoin wallet that allows users to buy, sell, and store Bitcoin. The firm also has a Bitcoin exchange and a lending platform. Ripio was founded in 2013 and is based in Buenos Aires, Argentina.
The crypto firm Ripio has announced the launch of its Bitcoin-backed Visa card in Brazil. This is a big move for Ripio, as Brazil is one of the largest markets in Latin America. The Ripio card will allow users to spend their Bitcoin at any merchant that accepts Visa.
This is significant because many Bitcoin holders have had to convert their Bitcoin to fiat currency to spend it. With the Ripio card, they will be able to spend their Bitcoin directly.
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
