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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.