Tuesday, January 31, 2023
BitWolf
  • Home
  • Cryptocurrency
  • Blockchain
  • Nft & Metaverse
  • Market
  • Bitcoin
  • Ethereum
  • More
    • Solana
    • Litecoin
    • Dogecoin
  • Live Prices
No Result
View All Result
No Result
View All Result
BitWolf

Crecy Launches the First Cryptocurrency-Backed Credit Card in Mexico

bitwolf by bitwolf
September 24, 2022
in Cryptocurrency
0 0
0
Home Cryptocurrency


Don’t fret, we converse :
Español (Spanish), too!

Mexicans can put their cryptocurrencies to a brand new use: utilizing them as collateral for a bank card. That is due to the cardboard launched this week by native startup Crecy, developed in collaboration Pomelo, a fee infrastructure and card issuance firm from Argentina. 

The launch was on the Bitcoin Embassy Bar, an iconic venue for crypto fans in Mexico Metropolis. Crecy co-founder and CEO Alexander Yaroshewski advised Contxto that the thought is about leveraging digital currencies for various use. “Now we have at all times been concerned in crypto, however we had been holders earlier than. We noticed that folks couldn’t unlock the worth of their crypto with out promoting it. That got here along with how problematic we seen it was to get a mortgage in Latin America, and that’s how we created the cardboard,” he mentioned.

Alexander Yaroshewski, CEO and of Crecy. (Photograph: Contxto)

Those that wish to receive it should go away Bitcoin, Ethereum, Solana, Cardano, or Polkadot as collateral and can be capable to entry a line of credit score starting from 1,000 to 720,000 Mexican pesos (US$50 to US$35,000 roughly). Credit score historical past just isn’t reviewed; solely the collateral is related, the quantity of which should be not less than twice as a lot because the credit score line being requested. 

Within the Latin American market, there’s a wave of cryptocurrency playing cards; nevertheless, these used to be debit cards, reminiscent of these launched by Ripio and Bitso with Visa and Mastercard, respectively. Or the prepaid crypto card of the Argentinean startup Belo. 

Crecy in Mexico already supplied credit score utilizing customers’ crypto as collateral. The bank card is its second product and can function from Monday, September 26, in digital format and bodily format from the primary week of October. The cardboard has no charges or annuity. 

Based in 2020, startup Crecy has raised US$633,000 in pre-seed funding from Mucker Capital, Platanus Ventures, 500 World LatAm, CAPEM, and angel buyers. 


Predominant picture: Adobe Inventory

You might also be fascinated about: Meet Mono VC, an Initiative That Connects Colombian Startups with Funds and Investors

 

!perform(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=perform(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.model=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
doc,’script’,’https://join.fb.internet/en_US/fbevents.js’);



Source link

Related

Tags: CardCrecycreditCryptocurrencyBackedlaunchesMexico
ShareTweetShare
bitwolf

bitwolf

Next Post
NFTs bring in-game ownership to a new level, says Blokhaus founder

NFTs bring in-game ownership to a new level, says Blokhaus founder

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Bitcoin Holds Above $17K Despite DCG Uncertainty – CoinDesk

Bitcoin Holds Above $17K Despite DCG Uncertainty – CoinDesk

January 10, 2023
Bitcoin community not happy with Peter Zeihan’s criticisms on Joe Rogan podcast

Bitcoin community not happy with Peter Zeihan’s criticisms on Joe Rogan podcast

January 10, 2023
MULN Stock: Mullen Is the New Dogecoin… Without Any of the Fun

MULN Stock: Mullen Is the New Dogecoin… Without Any of the Fun

January 22, 2023
Why Polygon could play a key role in mass blockchain adoption despite MATIC’s…

Why Polygon could play a key role in mass blockchain adoption despite MATIC’s…

January 10, 2023
Trezor and Wasabi Join Forces To Make Bitcoin More Private

Trezor and Wasabi Join Forces To Make Bitcoin More Private

5
Bitcoin could become the foundation of DeFi with more single-sided liquidity pools

Bitcoin could become the foundation of DeFi with more single-sided liquidity pools

1
DOGE Proponents Express Hope And Concerns Related To Dogecoin-Ethereum Bridges

DOGE Proponents Express Hope And Concerns Related To Dogecoin-Ethereum Bridges

0
Petrousus Token Set to Top the Cryptocurrency Market Like Uniswap and Solana

Petrousus Token Set to Top the Cryptocurrency Market Like Uniswap and Solana

0
Big Eyes Coin Presale selling like hotcakes with $20 Million; Polygon & Solana battle for supremacy

Big Eyes Coin Presale selling like hotcakes with $20 Million; Polygon & Solana battle for supremacy

January 31, 2023
How Bitcoin mining saved Africa’s oldest national park from bankruptcy

How Bitcoin mining saved Africa’s oldest national park from bankruptcy

January 31, 2023
How the metaverse and blockchain accelerates economic … – e27

How the metaverse and blockchain accelerates economic … – e27

January 31, 2023

Local group uneasy about cryptocurrency mining centers in Nebraska – fox42kptm.com

January 31, 2023

Recent News

Big Eyes Coin Presale selling like hotcakes with $20 Million; Polygon & Solana battle for supremacy

Big Eyes Coin Presale selling like hotcakes with $20 Million; Polygon & Solana battle for supremacy

January 31, 2023
How Bitcoin mining saved Africa’s oldest national park from bankruptcy

How Bitcoin mining saved Africa’s oldest national park from bankruptcy

January 31, 2023
How the metaverse and blockchain accelerates economic … – e27

How the metaverse and blockchain accelerates economic … – e27

January 31, 2023

Categories

  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • Litecoin
  • Market & Analysis
  • Nft & Metaverse
  • Solana
  • Uncategorized

Tags

Big Binance Bitcoin Blockchain BNB BTC Cardano Coin Cointelegraph crypto Cryptocurrency Data DOGE Dogecoin ETH Ethereum Exchange eyes FTX Heres Inu Investors Latest Litecoin LTC Magazine market merge News NFT NFTs Polygon price rally Shiba SOL Solana Today token Top Trading Tweet Web3 Week XRP

© 2022 BitWolf All Rights Reserved

No Result
View All Result
  • Home
  • Cryptocurrency
  • Blockchain
  • Nft & Metaverse
  • Market
  • Bitcoin
  • Ethereum
  • More
    • Solana
    • Litecoin
    • Dogecoin
  • Live Prices

© 2022 BitWolf All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In