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Ripio Tests Blockchain-Linked Visa Credit Card for Cryptocurrency Users
Discover how Ripio is revolutionizing cryptocurrency transactions with its new blockchain-linked Visa credit card, designed for crypto users. Learn about the benefits, features, and the future of digital payments in this exciting development.
Ripio Tests Innovative Blockchain-Linked Visa Credit Card
In an exciting development for cryptocurrency enthusiasts, Ripio, a prominent Latin American cryptocurrency exchange, is currently testing a groundbreaking blockchain-enabled Visa credit card. This innovative payment solution allows users to make purchases using a portion of their assets that are secured in a DeFi liquidity pool. The announcement was made by CEO Sebastian Serrano during Ripio’s Modular Summit event held in São Paulo, as reported by local newspaper Valor.
The new credit card will enable Ripio users to utilize up to 30% of the funds locked in a Compound-based liquidity pool. This pool supports a variety of cryptocurrencies, including Bitcoin (BTC), Ether (ETH), USDC, USDT, and Ripio’s own dollar-pegged stablecoin, the cryptodollar (UXD). Serrano emphasized that the launch is in its testing phase, stating, “We are going to do a test with users first, and there will come a time when we will open it up to everyone. It’s a proof of concept where we will have a lot to validate.”
Customers interested in this innovative payment method can sign up for a waiting list to gain access to the card. This initiative follows Ripio’s 2022 release of a prepaid Visa debit card, which allows users to make purchases with cryptocurrencies while also earning cash rewards in Bitcoin.
Operating across multiple countries including Argentina, Brazil, Uruguay, Colombia, Mexico, Chile, the United States, and Spain, Ripio has achieved significant growth, boasting over 10 million users and partnerships with 2,000 institutions.