By crypto.news | Created at 2024-11-19 15:07:18 | Updated at 2024-11-22 14:46:35
2 days ago
Crypto.com has announced the launch of its Visa card program in Latin America, bringing its popular cryptocurrency-linked rewards card to a region with growing interest in digital assets.
The Crypto.com Visa Card allows users to preload funds using their crypto wallets or fiat currency through the Crypto.com app, according to a crypto.com release.
The card offers various rewards in seven different tiers, including up to 8% cash back on spending, rebates for services like Spotify and Netflix, and additional perks like airport lounge access. Unlike traditional credit cards, this card does not charge annual or monthly fees for certain tiers.
This move is part of Crypto.com’s broader effort to increase cryptocurrency adoption globally.
Latin America’s crypto adoption
Chainalysis research indicates that Latin America is the seventh largest crypto economy in the world, accounting for 7.3% of the market. In this region, residents frequently turn to digital assets to safeguard their wealth against the devaluation of national currencies and to resist authoritarianism.
Eric Anziani, President and COO of Crypto.com, emphasized the increasing demand for crypto services in Latin America. He stated that the card will “give Latin American users generous spending rewards paid in crypto, rebates for popular subscription services, and many more perks.”
The crypto.com credit card operates similarly to prepaid debit cards but integrates cryptocurrency.
This launch aligns with Crypto.com’s 2025 roadmap, which aims to develop new services and expand its product offerings. Eligible users in Latin America can now apply for the card through the Crypto.com app.
As the region continues to see rising interest in digital assets, this expansion could help normalize crypto use for everyday transactions.
