- Cryptocurrency exchange and Neobank Tauros has joined forces with Dash to launch Mexico’s first crypto debit card.
- The facility is only available to Mexican citizens at the moment or people having accounts with Tauros.
- The Visa debit card is easily convertible from crypto to fiat as per exchange rates and is accepted in all stores.
Soon after accepting cryptocurrency formally in Mexico, the country now is ready to embrace its first crypto debit card. Cryptocurrency exchange and Neobank Tauros has joined forces with Dash to launch the region’s first crypto debit card. According to Decrypt, The facility is only available to Mexican citizens at the moment or people having accounts with Tauros.
Solo Tauros te permite seguir ahorrando, incluso cuando gastas, disponible ahora. pic.twitter.com/xt7hwVsys5
— Tauros (@tauros_io) August 4, 2020
The Visa debit card is easily convertible from crypto to fiat as per exchange rates and is accepted in all stores.
In Mexico, cryptocurrency regulated under the Fintech law, and any irregularities or illegal activities against the user are booked under the same. This was previously maintained under Banxico. With the introduction of new digital payment of Tauros for millions of its Debit card, users will open virtually every possibility that is available for the regular Visa debit cardholders. From digital payments at local vendors to huge purchases. This will open a new spectrum for the coin holders to spend their coins. And possibly also attracting new users in the industry.
What’s in it for users?
According to Ernesto Contreras, Head, Business Development at Dash Core Group, they have been working on the technology for a very long time, and it couldn’t have come at a better time than a pandemic. With social norms of distancing and life moving to the digital world, this will also provide a sense of safety to the users. The twitter handle of Tauros on its Twitter handle said that that the card not only allows you to use the debit card as a mode of payment with cryptocurrency but also offers them. Which means now with every spending and purchase made company will offer their users Tauros coins in their accounts. The company officials say that this step made to attract new users and expand usage in the current ones.
In conclusion, payment mode backed by the technology of Dash, providing an entirely new playfield for the crypto users of the country, shows positive growth for the user-base of the country. And to forget the same is protected by the Finetech law, thus providing safety against any illegal activities and potential frauds.