Dash has teamed up with Taurus.io, a Mexican digital asset exchange, in order to launch a cryptocurrency based Visa debit card in Latin American markets. The card will only be offered to Taurus’ customers in Mexico (for now).
The crypto debit card will reportedly be accepted at millions of stores based in Mexico. When customers use the card to make purchases, the cryptocurrency funds on the card are automatically converted to local currency via the Tauros mobile app (so merchants are accepting fiat money, not crypto).
The cards may be used to conduct online or digital commerce transactions. Ernesto Contreras, the business development head at Dash Core Group (DCG), said that the Tauros card will allow customers to earn DashBack rewards (just like cashback rewards) with their cards.
Contreras told Cointelegraph that the rise in contactless payments in Latin America, which has been accelerated due to COVID-19, has helped with marketing all-digital products. Contreras noted that digital transactions should become the new normal due to the pandemic, which has led to many people adopting safe distancing measures.
Salvador Melendez, the CEO at Tauros, said that digital asset users in Mexico are looking for ways to spend crypto directly.
Last month, the Dash Core Group (DCG), which is one of the organizations that work for the Dash Network (a digital currency platform), officially announced the release of Dash Platform version 0.14.
Dash, which has a market cap of over $727 million (according to CoinGecko), aims to serve as digital cash that offers financial freedom which can enable greater financial inclusion.
The DCG team said that application developers can expect new features and functionality released after (approximately) every 6 weeks. The next code release has been scheduled for sometime between August 25 — September 8, 2020.
In June 2020, the Dash Investment Foundation (DIF), an organization that makes Dash (digital currency) denominated business loans and equity investments within the blockchain and crypto-asset sector, had purchased gold for the first time.
The organization said it will be introducing its Dash-to-gold rebalancing strategy, which involves diversifying investments so that it’s in a better position to help blockchain startups.