Crypto.com launches Visa card in Latin America: here’s what we know

Crypto.com is making strides in Latin America by launching its Visa card program, aiming to capitalize on the region’s increasing interest in cryptocurrencies.

The card offers an array of rewards and benefits that position it as an appealing option for consumers looking to use cryptocurrencies in practical ways.

The Crypto.com Visa Card allows users to preload funds from both crypto wallets and fiat currency directly through the Crypto.com app, offering flexibility that appeals to both crypto enthusiasts and traditional users.

This multi-currency feature is crucial for individuals hesitant to integrate digital assets into conventional financial systems.

The card offers seven distinct tiers and a range of perks, including up to 8% cash back on purchases.

The app simplifies the application process, ensuring quick and easy access to the Visa card for eligible users across the region.

Additionally, users can enjoy rebates on popular subscription services like Netflix and Spotify, adding tangible value to the card.

Crypto.com has eliminated annual or monthly fees on certain tiers, distinguishing its card from traditional credit cards that often impose such costs.

Eric Anziani, President and COO of Crypto.com, emphasized the importance of this launch, stating,

“The card will give Latin American users generous spending rewards paid in crypto, rebates for popular subscription services, and many more perks.”

Latin America’s distinct economic climate is a key factor in the increasing use of cryptocurrencies.

With 7.3% of the global cryptocurrency market, the region ranks as the seventh-largest crypto economy, according to Chainalysis.

For many in Latin America, cryptocurrencies serve as a hedge against the devaluation of local currencies and a means of circumventing restrictive government policies.

Crypto.com’s entry into the market is designed to meet the specific needs of consumers in this environment.

The company is positioning itself as a leader in the region’s growing crypto ecosystem by offering a product tailored to their preferences.

As Latin Americans seek financial independence and stability, digital assets, particularly Bitcoin, are becoming an integral part of their financial strategies.

The post Crypto.com launches Visa card in Latin America: here's what we know appeared first on Invezz