Monday, July 4

Belo takes flight: expands to 13 countries in America and launches card backed by bitcoin

The Argentine cryptocurrency broker, Belo, announced on Monday the expansion of its services to several countries in America, they say, following its idea of ​​reaching more nations in the world.

Via Twitter the company Indian that the decision of where to start the expansion was made by the “beloruleta”, a tool of their own which, as they explained, selected “America 1” as the first region to which they will take their services.

In this sense, they indicated that it will be possible to create an account in Belo in 13 countries of the American continent. These would be Mexico, Brazil, Chile, Bolivia, Colombia, Ecuador, El Salvador, Paraguay, Peru, Antigua and Barbuda, Bahamas, Belize and Canada.

It is good to remember that, according to reports such as those of Chainalysis, many of the first countries that will be able to rely on Belo to use cryptocurrencies are, coincidentally, the ones that have reported the highest adoption.

The expansion was announced via Twitter this Monday, December 20 / Source: Twitter.

This announcement comes after Belo activated a feature that allows buy and sell cryptocurrencies with Argentine pesos instantly and directly from the mobile application, integrating Lightning Network, bitcoin ‘s two – layer solution (BTC).

The fact, duly reported by CriptoNoticias, highlighted that the integration with the Lightning network allows users to obtain greater performance when operating bitcoin and other cryptocurrencies.

Belo, it is good to stand out, allows the sale of 5 cryptocurrencies and it also offers an annual return for keeping them on deposit within the platform. These are: bitcoin (5.25%), ether (3.5%), DAI (9%), USD Tether (9%) and the stablecoin USD Coin (9%).

A MasterCard backed by bitcoin

The announcement of the expansion to several American countries comes a week after the launch of a prepaid debit card that will operate in the MasterCard network and that will be backed by bitcoin (BTC).

According to the press release that reached the CriptoNoticias newsroom, the card, which will be contactless, will be available to be used in online and offline stores. All this in less than six months since Belo began operations.

In detail, Belo will allow you to enter and withdraw Argentine pesos from a bank account, with the possibility of exchanging them, without commissions, for bitcoin, ether (ETH), or stablecoins. It also allows you to deposit or withdraw any of the cryptocurrencies offered in the app from and to other wallets.

The card will be available in a few weeks / Source: Belo.

The card, they explain, will allow people to convert their cryptocurrency holdings to pay for their purchases in any physical or virtual store that accepts Mastercard. The interesting thing is that it can be done while in Argentina or abroad.

The tool will be available in a few months but, right now, they already have a waiting list of about 10,000 physical cards, as revealed in the press release.

We are very excited about the launch of our card, something that we had been requesting. After working for several years in the industry, we realized that the problem of the massification of crypto was being addressed in the wrong way, wanting to push users to experiences that are not human, that are not natural. Belo is the simplest and most intuitive way for people to access better financial services by taking advantage of existing technology.

Manuel Beaudroit, CEO of Belo.

According to the businessman, they think of people who cannot access quality financial services, so that “they can take advantage of what decentralized finance has to offer.”

“And, in this way, take advantage of the potential that cryptocurrencies have in the simplest way,” he concluded.

Leave a Reply

Your email address will not be published.