Wallib Launches Debit Card that Allows Payments with Bitcoin, Dollars and Pesos

The Colombian startup Wallib, creator of the digital wallet specialized in Bitcoin, announced the launch of its Visa debit card, designed to facilitate payments with the cryptocurrency anywhere in the world, also enabling payment in dollars and Colombian pesos.

According to the development team, this new debit card will include exclusive benefits for use and possession, such as 2% cashback in bitcoin (BTC), which will be returned to the user for each purchase made.

The creators of Wallib said they wanted to present a tool that will boost the use of Bitcoin as a physical and electronic payment method throughout the country

Thanks to the launch of this Visa card, virtual wallet users will be able to use their digital capital to make daily purchases without restrictions or confusion due to the conversion rate. With this, the platform would be covering one of the largest market niches in the ecosystem: the democratization of bitcoin as an unofficial means of payment for traditional purchases and payments, which also encourages the growth of cryptocurrencies and makes their use more common.

Cristian Peñaranda, CEO and co-founder of Wallib, pointed out that users of the platform can now request their debit card through the mobile application through a pre-launch and reservation registration, after which they will be notified of the shipment of the plastic. “We are very excited to officially launch the waiting list for our Visa card, this will create a gateway to a more global and inclusive financial system. People will be able to pay with Bitcoin, dollars or pesos in Colombia or anywhere in the world. As it is a Visa franchise card, our users have support to use it in any establishment or ATM globally.”

The startup projects that nearly 50,000 users will request this debit card in the coming weeks and that the delivery process will occur towards the end of April. In the long term, Wallib plans to issue the first million debit cards by the end of 2025. In search of reaching these figures, the platform launched a referral campaign within the application with which it will deliver the first 1,000 cards free of charge for both those who share their user code on the platform, as well as those who use it to open an account and request a debit card.

Peñaranda stated that Wallib presented this resource as part of its mission to build a more accessible financial system with which people can save, pay and receive money instantly through its Lightning Network, a network of payment channels specific to the technology. blockchain that makes it easy for cryptocurrency users to make transactions instantly.

“We are the first digital wallet to introduce a card to the market that has dollars, bitcoins and pesos in the same account. The best thing is that it can be used in a traditional way in physical stores, websites or subscriptions, even in purchases in foreign currency.”

Its expansion plans are concentrated in Mexico and the United States, connecting and integrating the remittance markets between both countries. This movement seeks to optimize and streamline the money transfer process between the United States and Mexico, taking advantage of the advantages of Lightning Network technology to offer fast and cheap transactions.

In addition, Peñaranda also mentioned Wallib’s intention to expand its reach into Peru in the next quarter

This step represents a significant advance in the democratization of access to financial services in the region, as it will allow users in these countries to receive remittances more efficiently and economically, taking advantage of Wallib’s technological innovations.

Wallib said that the inclusion of the United States, Mexico and Peru in the expansion plans reflects its commitment to financial inclusion throughout the Latin American region, offering solutions that allow people to access and manage their money in a more convenient and accessible way. This could have a positive impact on the economy of these countries by facilitating the flow of remittances to improve the quality of life of those who depend on this income.

For its part, Wallib already has more than 20,000 users and hopes to triple this number in the short term by strengthening its platform through strategies such as the launch of this debit card. In the crypto market, the platform stands out for offering low commissions to send and receive Bitcoin and is already leading the flow of transactions with this cryptocurrency in the country.

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First published in Portafolio. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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