Bitso and Mastercard Launches Debit Card in Mexico

03/03/2023 20:16 • AI & Tech Insights • 72 views

It is reported that Bitso, the leading Latin American cryptocurrency exchange, has launched a debit card in Mexico in cooperation with MasterCard. After the exchange launched the card for a group of customers in November to obtain feedback, it carried out progressive promotion for more than 100000 users who applied for the card in Mexico.

Bitso and MasterCard launched debit cards in Mexico

Interpretation of the news:

Bitso, the leading cryptocurrency exchange in Latin America, has partnered with Mastercard to launch a debit card in Mexico. The card was initially tested among a group of selected customers in November, and the exchange has since progressively promoted it to more than 100,000 users who have applied for the card. The launch of a debit card in a country such as Mexico is considered a timely strategic move for Bitso, given the increased adoption of cryptocurrencies in the country over the past few years.

The partnership between Bitso and Mastercard offers users the opportunity to use cryptocurrencies like Bitcoin and Ethereum for daily purchases. The card is connected to the Bitso account, allowing users to convert digital currencies to fiat currencies and make purchases at any Mastercard-enabled point of sale. Given that only a small percentage of global merchants currently accept cryptocurrencies for payment, the launch of the Bitso debit card is a great milestone towards mainstream adoption of cryptocurrencies as a means of payment in Mexico.

The progressive promotion of the card to over 100,000 customers who applied since November speaks to the growing interest and adoption of cryptocurrencies in Mexico. The launch may also indicate Bitso’s dedication to providing access to advanced financial services to individuals who are unbanked or underbanked.

The partnership also marks a significant milestone for Mastercard, which has previously been skeptical about cryptocurrencies. However, Mastercard has recently taken steps towards cryptocurrency adoption. The company announced plans in February to offer support for a select number of digital currencies on its network later this year, and the Bitso partnership appears to be in line with this new direction.

In conclusion, the launch of the Bitso debit card is a significant move for both Bitso and Mastercard in terms of expanding their services and offerings in the cryptocurrency industry. With increasing digital currency adoption in Mexico and around the world, it is laudable to see leading financial institutions meeting consumer demands and incorporating advanced financial services.

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Bitso and Mastercard Launches Debit Card in Mexico

Bitso and MasterCard launched debit cards in Mexico

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