SoFi and Mastercard Launch Crypto Card in Mexico

SoFi Tech Solutions, a financial technology provider, Orbi, a Mexican fintech company, and Mastercard, a global payment network, are partnering to launch a crypto-linked card in Mexico. The card will allow Orbi customers to pay with fiat currency or funds from their crypto balances, which will be converted at the time of purchase. Merchants will receive payments in traditional currency.

The card will be available in both physical and virtual formats. Users will also be able to withdraw cash at ATMs through Mastercard’s domestic payment network in Mexico. Orbi said the card is designed to make digital dollars easier to use for everyday purchases wherever Mastercard is accepted.

SoFi Tech Solutions will provide the financial infrastructure for the program, including card issuance, transaction processing, authorization and compliance. The platform will also support future payment services based on stablecoins.

SoFi Tech Solutions, formerly known as Galileo Financial Technologies, provides technology for card payments, digital banking, and other financial services. Its platform supports nearly 200 clients and approximately 135 million accounts.

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