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Through the social network Telegram, it was announced this November 3, that Venezuela will be one of the Latin American countries that will have the new prepaid VISA card in cryptocurrency issued by Cryptobuyer.
The VISA-supported financial instrument can be requested from anywhere in the world through the platform of the Latin American company Cryptobuyer, with some exceptions from countries like Japan, China, Cuba, the United States, North Korea, South Africa, Saudi Arabia, Romania, among others.
Likewise, since it is an international financial product that meets the highest standards of legal compliance, it is subject to certain general conditions applicable depending on the country from which the request is generated, for example, in the case of Venezuela, the amount of requirements necessary to have a product available to the common citizen of the entire region has been reduced to a minimum, including the acceptance of passports expired in 2019, plus the identity card. Both requirements are international VISA requirements to offer a card with a USD balance to be used worldwide.
Terms of use
The rechargeable Visa Card can be used at any point of sale in shops and ATMs, compatible with VISA network all over the world, can be topped up with cryptocurrencies supported in Cryptobuyer, such as Litecoin (LTC), Dash, ether (ETH) and stablecoin Tether (USDT).
To top up the VISA card, the user must register and verify on the company platform. Once reloaded, the funds are automatically loaded in USD, then the user can dispose of the funds when he deems it appropriate, or withdraw them in cash at an ATM. In case of return, the corresponding refund will be made.
The cost of issuing the card is $ 40, an annual renewal of $ 15, and a 3% reload fee. However, the card enjoys the advantage of payments in shops, without any recharge. Likewise, the VISA prepaid card has no daily transaction limits and does not generate maintenance fees during the first year of issue.
The delivery time of the card is carried out in an approximate period of thirty days, however, Cryptobuyer points out that problems of delays may arise, due to the current situation that is being experienced due to the Covid-19 pandemic.
Cryptobuyer’s prepaid VISA debit card is an alternative for the Venezuelan financial market, which offers Venezuelan solutions to the regulations of the financial system for the operation of this type of proposal in the region. This was confirmed today exclusively for Cointelegraph, Cryptobuyer CEO Jorge Farías.
In this regard, the Cryptobuyer CEO points out that:
“The Visa debit card is more than a year’s work, looking for a provider that would allow us to offer services to all of Latin America, due to the limitations that companies that want to offer them in South American countries have at the level of legal compliance “.
He also mentioned the agreement made with Visa, the digital card processing company that connects financial institutions, businesses and governments. Adding that this agreement, It has enabled them to create a product that will not only be available to people in Latin America, but can also be used digitally to shop online, among others, which they hope will have a big impact on the Venezuelan market.
“We have a product that allows people to top up in cryptocurrencies, which will be converted to dollars and that dollar balance will be available on cards for use anywhere in the world.”, said Jorge Farías, very excited by the announcement.
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