Mastercard has partnered with SoFi and Orbi to launch a card linked to #criptomonedas in Mexico, allowing users to spend from their crypto balances, with funds converted to fiat at the point of sale. The Mexican fintech becomes the first cryptocurrency-focused company in the country to issue cards through this program, enabling its users to use their digital balances in everyday life.
Customers will be able to make purchases or withdrawals using funds from their crypto-asset balances, with a strong focus on stablecoins. These funds will be automatically converted into fiat currency at the exact moment of the transaction. Merchants don’t need to change anything or accept cryptocurrencies directly, since they receive payment in traditional local currency, eliminating volatility risk for their businesses.
Customers will be able to make purchases or withdrawals using funds from their crypto-asset balances, with a strong focus on stablecoins. These funds will be automatically converted into fiat currency at the exact moment of the transaction. Merchants don’t need to change anything or accept cryptocurrencies directly, since they receive payment in traditional local currency, eliminating volatility risk for their businesses.