Cryptocurrency Debit Card Coming to Mexico Following Increasing Demand in Colombia and P…

A banking institution has confirmed it will allow Mexican customers to make payments in crypto using debit cards. The company going by the name Tauros claims its new digital account allows customers keep money in fiat as well as crypto such as bitcoin.

Although the financial services firm says its new card currently only allows peso payments and transactions, it claims that “in the coming months, customers will be able to make payments in cryptocurrencies such as bitcoin.”

Crypto is not the legal tender in Mexico, but Tauros has found a way to navigate around the problem. The firm states that Mexican law recognizes crypto as a “means of storage or value transfer, with which payments can be made,” according to  EI Universal.

Many onlookers have said that demand for cryptocurrency pay is likely to soar in Mexico, with the new Fintech laws enforced yesterday on Wednesday.

The new regulations effectively bar several forms of e-wallet for payment platforms like…