Bitso, Partner of Ripple, Collaborated with Mastercard

Bitso, the Mexican partner of Ripple (XRP), has announced that it is issuing a debit card in partnership with Mastercard. This innovation will allow exchange users to pay in Mexican Peso (MXN) from their Bitso wallet balance wherever Mastercard is accepted. The card can only be used by Mexican citizens who have gone through the KYC procedure.

“Bitso is one of Ripple’s most important partners in the region. As its representatives have stated before, the partnership with Ripple enables instant money transfers for millions of Mexican employees.”

While it is not possible to say with certainty what impact the Bitso card launch will have on Ripple, it looks like a clear win-win situation for XRP. To exemplify, the XRP volumes in all pairs on Bitso total $19.64 million, with a total exchange cap of $31.42 million. Bitso, one of the largest cryptocurrency exchanges in Latin America, is expanding its services and offerings to include various financial solutions for its users.

The new debit card will provide a smoother and more convenient experience, allowing users to easily spend their crypto assets in the real world. According to the company, the card will also come with a variety of other benefits, such as cashback rewards on purchases made with the card. Bitso also offers special promotions to users who sign up for the card, such as a free year of Spotify Premium and a discount on the annual membership fee.

The launch of the Bitso debit card marks an important milestone for the company, which continues to expand its reach and offerings in the crypto market. With the addition of the Mastercard partnership, Bitso positions itself as a leading provider of cryptocurrency payment solutions in Mexico.