Ripio, a cryptocurrency company in Latin America started launching a prepaid debit card in Brazil allowing cryptocurrency payments and earning cashback rewards in the form of Bitcoin (BTC).
Chief Executive Officer Sebastian Serraro expressed his desire for his company Ripio to issue 250,000 cards developed with Visa (V) by the end of the year.
Accordingly, Ripio has offered its products to its one million users in South American countries, including the digital preparation of the new version of the card.
For context, the card will allow payments using Brazilian reals and Ripio's 28 cryptocurrencies listed on its platform.
Additionally, Serrano stated Ripio is considering adding rewards in cryptocurrencies other than BTC and plans to launch the card in Argentina later this year.
In addition to that, if he has the opportunity, Ripio will not reject the opportunity to launch his card in countries such as Uruguay, Colombia, Mexico and Spain.
Revealed, Ripio is the first major company in Latin America to integrate cryptocurrency, but Serrano is confident that the project he is doing will grow and become a catalyst for the future.
Additionally, the company has also raised $50 million in a Series B funding round led by blockchain firm Digital Currency Group (DCG).
As a result, Ripio now has 3.5 million users across Brazil, Argentina, Uruguay, Columbia, Mexico and Spain. In fact, the company plans to start operations in Chile before the end of 2022 and open new offices in Peru, Ecuador, Bolivia and Paraguay next year.
