Latin American cryptocurrency exchange Ripio is piloting a groundbreaking Visa credit card that integrates with blockchain technology, allowing users to make purchases using funds from a DeFi liquidity pool, CEO Sebastian Serrano announced on Thursday.
At Ripio’s Modular Summit event in São Paulo, Serrano revealed that the new credit card will enable users to spend up to 30% of their assets locked in a Compound-based liquidity pool. This pool will support a range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), USDC, USDT, and Ripio’s own stablecoin, cryptodollar (UXD).
“We are initiating a test phase with select users, and eventually, we plan to roll it out to a broader audience. This is a proof of concept that will require extensive validation,” Serrano said. Interested customers can join a waiting list to access the card.
In 2022, Ripio launched a prepaid Visa debit card that allows cryptocurrency transactions and offers cash rewards in Bitcoin.
Ripio, which operates across Argentina, Brazil, Uruguay, Colombia, Mexico, Chile, the U.S., and Spain, reports a user base exceeding 10 million and partnerships with over 2,000 institutions.
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