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Mexico: Residents Can Now Spend Crypto at Millions of Visa-Accepting Stores

Mexico: Residents Can Now Spend Crypto at Millions of Visa-Accepting Stores

A Mexico-based cryptocurrency exchange, Tauros, announced the region’s first crypto debit cards in a partnership effort with Dash on August 4. The card can be used at any Visa-accepting store and is only available for Mexican residents.

Latin America Gets Its Crypto Moment

Crypto fanatics in Mexico can now boast owning the region’s first crypto debit cards – while also having a new way to spend their money. Tauros, a local cryptocurrency exchange, unveiled crypto debit cards yesterday, in a joint effort with the Dash Foundation.

The firm, also a self-styled digital bank, has rolled out features to spend Bitcoin, Dash, and a basket of other cryptocurrencies at any Visa-accepting location in Mexico. The move comes as Visa, and Mastercard, have turned into crypto-friendly organizations in recent times.

In a press release, Tauros said it holds an agreement with Visa, which allowed the firm to introduce a debit card containing cryptocurrency. For now, however, it’s only available to Tauros account holders who are either citizens or legal residents of Mexico.

En alianza con @Dashpay para traerte por primera vez en México: #CryptoBack® , el único sistema que te recompensa con un 2% en DASH por cada compra que hagas con tu tarjeta física. 💳 Solo Tauros te permite seguir ahorrando, incluso cuando gastas, disponible ahora. — Tauros (@tauros_io) August 4, 2020

Being a Visa card, it can be used at any location accepting the service – meaning millions of retail stores and businesses in Mexico can now accept cryptocurrencies as payment. All crypto-fiat exchanges will be done instantly when a user is making a payment (based on the exchange rates at the time). 

However, users can also hold their balance in Mexican pesos to avoid the inherent volatility of cryptocurrencies. 

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