Key facts:
The conversion to Argentine pesos is done automatically at the time of payment.
A first batch of 1,000 cards will be delivered, according to a waiting list.
Those responsible for the Belo digital wallet announced on Monday the launch in Argentina of the first 1,000 Belo Mastercard debit cards, to allow payments from available funds in bitcoin and other cryptocurrencies. The conversion to Argentine pesos is done automatically when making payments.
The launch is part of the initiative Crypto Card Program of Mastercard, indicates a statement from Belo received by email at this writing. The Belo digital wallet is the first in Argentina to join the Mastercard program, the statement highlights.
With an increasingly diverse digital economy and a booming cryptocurrency market, Mastercard applies our experience and innovation to build ecosystems that modernize and transform the way people make payments. It is about working to offer the consumer more options, providing experiences that are safe and convenient.
Agustín Beccar Varela, President of Mastercard for the Southern Cone.
For his part, the CEO of Belo, Manuel Beaudroit, pointed out that the new card will allow people the daily use of cryptocurrencies. “Our goal is to allow more and more people to access better options to take care of inflation, and at the same time, they can spend on what they want,” said the executive. The cryptocurrencies included in this initiative are bitcoin (BTC), ether (ETH), as well as stablecoins pegged to the US dollar. The card has technology contactless -contactless- that enables short-range, high-frequency wireless communication for data exchange between devices, the statement said.
Based on the agreement between Belo and Mastercard, those who use Belo will be able to request a Mastercard card to pay for their purchases in any physical or virtual store that accepts Mastercard, in Argentina and abroad, says the office. “In addition, the card provides up to 21% cashback and people can spend as many assets as they want in any order they want, without any card maintenance fees,” the statement said.
Beaudroit pointed out that after the delivery of the first 1,000 cards, other batches will continue to be released progressivelyaccording to a waiting list. “On the other hand, an important point is that anyone over 13 years of age can download the app and also have access to the card,” said the executive.
This is not the first debit card associated with cryptocurrencies in the Argentine market. On February 14, an update of the Lemon Cash application was launched in Argentina, in partnership with Visa, which allows you to consume balance in bitcoin, ether (ETH), and in the stablecoins DAI and tether (USDT), through a debit card. , as reported by CripoNoticias.