Bitcoin rewards credit card YoCripto gears up for launch
The new YoCripto digital platform is on a mission to be the first in Latin America to offer a credit card with Bitcoin rewards.
The fintech, which currently has a waiting list, promises to offer a virtual and physical credit card powered by Visa that offers Bitcoin rewards of up to 3% on every purchase.
YoCripto credit card benefits also include one of the lowest interest rates on the market, no annual fees and commissions, as well as instant credit approval and choice of credit limit , based on internal rules.
YoCripto says users will be able to get their hands on the credit card in three minutes and without the need for paperwork. Customer information is encrypted and Bitcoins are protected in a digital safe.
Founded in January this year and based in Mexico City, YoCripto is designed to meet the needs of young and underbanked sectors of the population, “providing access to affordable credit with the benefits of the crypto ecosystem, without the complexity” .
Founders Julian Arber and Rafael Maya have extensive financial and technology experience, with Arber having worked at Merrill Lynch and Morgan Stanley while Maya has worked at American Express and various technology companies such as Adobe and Caffeine.
YoCripto also recently announced a seed funding round led by DILA Capital, which raised $4 million.
Talk to LABORATORIES, the founders say their main goal is to promote financial inclusion throughout Latin America, starting with the domestic market of Mexico, then expanding to Colombia, Chile, Peru and Argentina.