Spending Crypto Just Got Easier: Truther's New Visa Card in El Salvador

Truther, a company that deals with crypto payments, is introducing a new Visa card in El Salvador. This card lets users spend USDT directly from their own wallets. They don't need to add money to the card beforehand. Instead, it takes the USDT equivalent of the purchase amount in real time. The card has a 2% fee for currency conversions. Brazilian users won't have to pay the IOF tax on financial transactions. After the launch in El Salvador, all of Truther's users will be able to use this card. The founder of Truther, Rocelo Lopes, explained that if you're at a hotel and the bill is 30 euros, the card will deduct the USDT equivalent right away. This new card could make spending stablecoins easier for travelers and crypto users. It's different from traditional crypto cards because it doesn't require users to top up or use custodial accounts. Truther's card lets users keep full control of their funds through a private wallet that runs on the Polygon blockchain. They plan to move to the Liquid network for better privacy. Truther already processes $40 million in daily volume by connecting stablecoins like USDT to Brazil's instant payment system PIX. This new Visa partnership is part of their growing infrastructure. Visa has also started testing stablecoin payouts for creators and gig workers. The launch in El Salvador, where bitcoin is legal tender, could help spread the use of this card in Latin America and beyond. Truther is also expanding its services outside of Brazil. Their Swapix API, which allows instant crypto-to-fiat conversions, is rolling out in Argentina next, followed by Mexico, Colombia, and Russia. These markets were chosen because they have 24/7 payment infrastructure and support for QR code-based transactions. Truther's self-custody wallet supports BTC, USDT, and their own stablecoin tied to the Brazilian real. By early 2025, they plan to add more local stablecoins, including tether gold and an Argentine peso-pegged token. The wallet allows users to spend crypto via QR codes or receive stablecoins without network fees. Truther is also working with traditional banks to integrate stablecoins into their platforms. They predict that stablecoin volumes could triple over the next 12 months as more traditional financial players join the ecosystem.