Bitcoin rewards credit card YoCripto readies for launch

New digital platform YoCripto is on a mission to be the first in Latin America to offer a credit card with Bitcoin rewards.

YoCripto’s waitlist is open for sign-ups

The fintech, which has a waiting list at present, promises to offer a virtual and physical Visa-powered credit card that provides Bitcoin rewards of up to 3% on every purchase.

Benefits of the YoCripto credit card 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 policy rules.

YoCripto says users will be able to get their hands on the credit card within three minutes and without the need for paperwork. Customer information is encrypted and Bitcoins are protected in a digital vault.

Founded in January of this year and based out of Mexico City, YoCripto is designed to cater to the young and underbanked sectors of the population, “offering 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 had stints at American Express and various tech firms such as Adobe and Caffeine.

YoCripto also recently announced a seed funding round led by DILA Capital, which raised $4 million.

Talking to LABS, the founders say their main goal is to promote financial inclusion across Latin America, starting with the home market of Mexico and then expanding to Colombia, Chile, Peru, and Argentina.