We cannot deny that the Visa circuit is one of the most used in the world and today there are not many alternatives as valid as it.
We know Mastercard and American Express, which are probably the only competitors globally, but Visa is tackling the digital revolution with practical actions that cater to millions of users who rely on the circuit for their operations every day.
Today, the digital industry is taking a big step forward and in Latin America, as in the Caribbean, you can get Visa cards that enable Bitcoin and other cryptocurrencies.
On the other hand, you can’t say that the interest in the adoption of crypto has decreased, indeed.
If we go, in fact, to take a look at trading with digital currencies, we will notice undoubtedly a long bearish trend that has put a strain on the sector, but if we go to give a look at the realities who choose to take a look at cryptocurrencies, NFT and metaverse, we will find that they are growing.
It all begins with the intention of large companies to grab a slice of the crypto sector, which has always been very intriguing and full of opportunities.
The Visa Latin America and Caribbean section wanted to seize before many other competitors this opportunity to establish itself on the market in a marked, decisive way, and the merit is; in particular the Vice President of Products and Innovation, Romina Seltzer.
For some time now, the international payment circuit has been a great supporter of digital currencies and the Vice President wanted to remind you that the company aims to be number one in the sector, providing scalability and safety for users.
The goal is clear: to be the ship that will ferry cryptocurrencies towards global acceptance and future growth.
New Visa crypto cards: how can they be used?
Especially the competitors on the Seltzer-led team will soon have to adapt, otherwise they risk falling too far behind.
Anyway, what the people of Latin America and the Caribbean can do will be to exploit new cards from the Visa circuit in collaboration with various overseas companies and fintech startups.
We can first of all keep our cryptocurrencies in them, like any other currency, and spend them in the same way.
Furthermore, we will also be able to use the circuit to buy new digital currencies and, as if that were not enough, some partnerships will guarantee the cashback service in cryptocurrencies through various partner shops spread throughout the territory.
Here are new and old fintech partners who will accompany the project
We talked about some of the new project partners who will accompany the American joint venture, but now let’s shed some light on what they will be!
To name a few, Blockfi , Coinbase and Crypto.com represent some of the most important partners of Visa.
But they are not the only ones, because we will also have startups like Lemon Cash, Satoshi Tango, Alterbank and Zro Bank!
The target is to create a reliable network, taking advantage of the best startups and crypto companies on the market, to bring users closer to opportunities that cryptocurrencies represent and guarantee cutting-edge services for all.
The first products available in Brazil and Argentina
The launch plans to prioritize those startups that will guarantee the cashback service.
In this regard, the first Visa cards dedicated to cryptocurrencies will be available in Argentina thanks to the partner Lemon Cash, which will provide a cashback of 2% to those who purchase using the debit cards in question.
While in Brazil the first will be the partner Crypto.com, which will push cashback at 5%, the highest percentage among partners.
We can’t help but be enthusiastic, but the Argentines and Brazilians will be the first to test the services, so we will have to wait for a report from them to better understand the functioning and reliability.
Read also: PayPal Coin: the crypto shopping revolution is coming
Why the focus on cryptocurrencies in Latin America and the Caribbean?
Of all the countries in the world, the first to be able to use cryptocurrency-based debit cards will be those with the least stable economy in the world.
From Bitcoin City, to El Salvador, to the digitization of money in Venezuela with Petro: Latin America seems to be the global hub of the crypto world.
This interest is due precisely to the instability of economics, high inflation that undermines savings and increasingly more citizens who therefore seek refuge in cryptocurrencies.
This propensity to seek refuge and solutions by exploiting blockchain and digital money could only attract large companies, engaged in the legitimation of digital assets and looking for a good market to take off its investments looking to the future.
