Source: Criptonoticias Original Title: Rechargeable USDT Card Coming to Venezuela Original Link: https://www.criptonoticias.com/comunidad/adopcion/tarjeta-recargable-usdt-venezuela-luqascard/

Venezuela Launches USDT Payment Card Product

Luqas and Crixto platforms jointly launched a Mastercard Gold debit card, allowing Venezuelan users to make purchases at merchants nationwide using USDT stablecoin.

This financial tool is issued by Venezuela’s private bank 100% Banco. The card features NFC technology and contactless payment capabilities, with embossed printing, and can directly deduct from the balance in the Luqas app at (POS) terminals.

Crixto representatives confirmed that the company is developing new products and establishing partnerships with other Venezuelan banking institutions. These upcoming initiatives aim to strengthen the country’s digital asset payment ecosystem.

Currently, the product is available to some users but remains in closed beta testing. New user registration and application may be restricted to allow for adjustments to the app’s technical details and support systems.

How It Works

The card operates based on the automatic conversion between USDT and the local currency, the Venezuelan bolívar(VES). According to practical testing, the exchange rate applied during transactions is based on the Crixto platform’s VES-USDT quote, including intermediary service fees.

The system currently allows top-ups to the Luqas app via Tron(TRC-20) and Ethereum(ERC-20) networks. After activating the card and setting a PIN, users can make payments directly within the country without manually exchanging on exchanges.

Currently, the card is only for domestic use. However, the developers stated they are working on an international version, which will enable USDT to become a tool for cross-border payments for Venezuelans in the short term. Unofficial sources say the card costs 5.90 USDT.

Luqas is a Colombian digital financial services and wallet platform operated by Lior Tech 18 SAS, headquartered in Bogotá. The platform is dedicated to providing solutions for everyday financial management.