Crypto exchange Taurus will offer the first crypto debit card backed by Dash in Latin America.
Dash has partnered with Mexican cryptocurrency exchange, Taurus.io, to release the first crypto Visa debit card in Latin America. The offer will initially only be available to Taurus’ customers in Mexico.
The card will work at millions of stores in Mexico by converting crypto funds to pesos using the Tauros mobile app. It will also be capable of conducting online transactions. Speaking with Cointelegraph, Ernesto Contreras, Head of Business Development at Dash Core Group, provided more details about the new product, which is the first of its kind in the region:
“The Tauros card is a first in Mexico and the region, and it will also allow for a very easy way in and out of the Tauros ecosystem, which is very important as it adds massive usability to Dash users in the country. The fact that we are giving the opportunity for people to earn DashBack rewards with their card will also give a boost to the crypto ecosystem in Mexico as now anyone can use their pesos, and Hodl Dash.”
COVID-19 drove the debit card’s launch forward
He added that the recent need for contactless payments helped to accelerate the product offering. He emphasized the necessity of social distancing, noting that this will be the “new normal after this pandemic.”
Salvador Melendez, CEO of Tauros Exchange, believes that the crypto ecosystem in Mexico is interested in a way to spend crypto directly. He stated that “this new world is about freedom.”
The Dash Core Group recently announced plans to release another update near the end of August.