CryptoRipio Tests Blockchain-Linked Visa Credit Card with DeFi Integration

Ripio Tests Blockchain-Linked Visa Credit Card with DeFi Integration

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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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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