On Jan. 29, Truther launches a USDT Visa card in El Salvador, which is non-custodial. Direct wallets incur a 2% conversion fee when making purchases. No preloading required.
Truther will transform cryptos in Latin America. During the Blockchain conference in Brazil, the company declared its collaboration with Visa. The card will have a debut launch in El Salvador.
The product is aimed at travelers and crypto users who want useful solutions. Old-fashioned crypto cards either need to be preloaded or custodial. The innovation of Truther does away with these two requirements altogether.
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Real-Time Spending Without Custody Risks
CoinDesk states that the card deducts USDT at the point of purchase. In the case of the interview at the conference, founder Rocelo Lopes described the process. The users keep full control over their personal wallets.
You do not charge the card in advance, Lopes said. A 30 euros hotel bill will automatically convert to USDT. The exchange is real-time and has no delays.
The card currently uses Polygon blockchain infrastructure. Truther intends to migrate to the Liquid network, where privacy is better. Users do not convert crypto into fiat.
All conversions of currency attract a charge of 2%. Brazilian users are exempt from the IOF tax. All users can access the card after launching.
Expansion Beyond El Salvador’s Borders
Truther already handles $40 million in daily volume of transactions. USDT is linked to the PIX payment system in Brazil through the company. Stablecoin payouts to creators and workers were recently piloted by Visa.
The bitcoin legal tender status in El Salvador presents a perfect experimental environment. Its introduction is succeeded by expansion plans to other parts of Latin America. Other markets will be accessed gradually.
Swapix API by Truther supports real-time crypto-to-fiat transfers. The next in the queue is Argentina. Subsequent rollouts are to Mexico, Colombia, and Russia.
The choice of the market is based on the availability of a 24/7 payment infrastructure. The support of QR code transactions is vital to operations. Market preparedness is determined by the real-time settlement capabilities.
Stablecoin Integration Plans Accelerate
The self-custody wallet accepts BTC and USDT at the moment. The Brazilian real-pegged stablecoin Truther is based on Liquid. There are more local integrations of stablecoins in early 2025.
Tether Gold will enter the wallet portfolio. A token pegged to Argentine pesos enters development phases. Users are able to use crypto through QR codes.
There are no network gas fees as recipients obtain stablecoins. The capability increases the ease of use in daily transactions. Conventional banks are considering stablecoin platform integration.
Lopes refused to provide any specific details of the bank partnerships. His anticipations are a tripling of stablecoin volumes in twelve months. Conventional financial institutions are fueling the expansion of the ecosystem.