Truther Launching Stablecoin-Focused Visa Card in El Salvador

Cryptocurrency payments firm Truther is preparing to launch a Visa card in El Salvador.

The new card, set to debut Jan. 29, will let users spend the USDT stablecoin directly from their wallets, without having to preload funds or rely on custodial services, company officials told CoinDesk in an interview published Sunday (Nov. 30).

“You don’t charge the card beforehand,” said Founder Rocelo Lopes. “If you’re at a hotel and the bill is €30, it deducts the USDT equivalent in real time.”

The report noted that this move could make stablecoin spending more practical for travelers and crypto users who want to get around converting to fiat or avoid holding balances on centralized platforms. Unlike traditional crypto cards, which in many cases require users to top up or use custodial accounts, Truther’s integration allows for full user control via a private wallet running on the Polygon blockchain. Lopes told CoinDesk the company also plans to migrate to the Liquid network for added privacy.

According to the report, the collaboration with Visa expands on Truther’s infrastructure, which was already processing $40 million in daily volume by linking stablecoins with Brazil’s Pix instant payment system. It also comes on the heels of Visa’s recent pilot program to provide stablecoin payouts for creators and gig workers.

CoinDesk added that the card will have a 2% fee on currency conversions, and for users in Brazil, won’t carry the IOF tax on financial transactions. Following its launch in El Salvador — where bitcoin is legal tender — the card will become available to all of Truther’s users.

The launch of the new card comes amid a surge in stablecoin payment volume following new U.S. cryptocurrency legislation.

As covered here last month, upwards of $10 billion flowed through stablecoins in August for goods, services and transfers, findings from blockchain data provider Artemis Analytics show.

That figure climbed from $6 billion in February and is more than double the volume from August of last year. Stablecoin payments could come to $122 billion over a full year, the report added.

“It’s well understood that stablecoins have graduated from merely being a tool used by crypto traders and exchanges to conveniently move money around without relying on banks, to a more widely used tool for consumer and enterprise payments,” the report said.

“Major payments companies such as Visa, Mastercard, and Stripe have begun to incorporate stablecoins into their payment flows.”