Bitso Launches Crypto Debit Card in Mexico
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Bitso Launches Crypto Debit Card in Mexico

Bitso recently announced the rollout of its crypto debit card to users in Mexico.
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.

On Thursday, March 2nd, Bitso announced that its crypto debit card, created in partnership with Mastercard, is now available to all of its users based in Mexico. The reveal comes several months after the exchange made a limited rollout for the card aimed at getting feedback.

Bitso And Mastercard Bring Crypto Debit Card to Mexico

This Thursday, the cryptocurrency exchange Bitso announced that its crypto debit card, the result of a partnership with Mastercard revealed last August, is now available to its users in Mexico. The card saw a smaller-scale release last November when it was issued to a limited number of customers to facilitate testing and collect feedback.

According to the announcement, users will be able to use the card to make everyday payments using their digital asset wallets. The company’s website also states that the card can be used to make both physical and digital purchases anywhere in the world. Furthermore, there is no minimum spending requirement. The card, however, does not currently allow monthly payments.

Bitso was founded in 2014 in Mexico. It is currently operating in multiple South American countries including Argentina, Brazil, and Colombia. In September 2021, it started offering its service in El Salvador. The exchange currently boasts around 6 million users across the region.

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Mastercard Continues Expanding Its Crypto Offering, Despite Recent Reports of a Pause

While a report from late February stated that both Visa and Mastercard are pausing their crypto partnerships due to the current turmoil in the industry, both companies have worked to dispel the rumor. Today’s announcement comes as the latest in the long string of news pertaining to Mastercard’s expansion into digital assets.

The company maintains an impressive list of partnerships with digital asset companies including the world’s largest cryptocurrency exchange Binance with which it released a debit card in Brazil this January. More recently, the result of the payment giant’s partnership with Immersve was unveiled with the launch of a similar card available to customers in New Zealand and Australia.

Mastercard has also been actively working on cryptocurrency adoption with the banking sector. Last October, the payment giant unveiled an AI tool intended to help banks better assess digital asset-related crime. Just weeks later, it was also reported that the company is working on a program that would allow banks to offer cryptocurrency trading to their clients.

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Do you think crypto debit cards will become ubiquitous before the end of the decade? Let us know in the comments below.