Background on Bitso and the Bitso Card
Bitso, a technology-driven financial services platform, has announced that its Bitso Card product will cease operations in Mexico starting May 26, 2025. This decision marks a new phase in Bitso’s product strategy, focusing on developing financial solutions that help individuals build and manage their wealth more effectively.
The Bitso Card, launched in March 2023, was well-received in the Mexican market, offering a new alternative for cryptocurrency payments and setting a milestone in the adoption of digital financial solutions in the region. The card was available in both physical and digital formats, allowing users to make payments using their Mexican peso balance in the Bitso wallet at both physical and online stores. It also provided benefits such as contactless payments and cash withdrawals from ATMs.
Before its official launch, Bitso conducted a beta phase in November 2022, where a select group of users tested the card and provided feedback.
Reasons for Discontinuation
Bitso explained that the insights gained from operating the Bitso Card have been crucial in understanding user needs. These learnings now drive a new development phase focused on providing tools that promote savings, investments, and long-term financial growth.
Phased Discontinuation Process
The Bitso Card’s discontinuation in Mexico will occur in two phases. Starting April 25, users will receive personalized notifications detailing the transition. On May 26, the card will be definitively deactivated. Until then, users can continue transactions normally.
Recommendations for Users
Bitso advises its clients to update any recurring subscriptions or payments linked to their Bitso Card to avoid inconveniences once the service is discontinued.
Bitso’s Future Commitment
With a long-term perspective, Bitso extends its gratitude to everyone involved in the Bitso Card project and reaffirms its commitment to creating reliable, accessible, and innovative products that actively contribute to the financial future of all its clients.
Key Questions and Answers
- What is Bitso? Bitso is a technology-driven financial services platform based in Mexico.
- What was the Bitso Card? The Bitso Card was a cryptocurrency payment solution available in physical and digital formats, allowing users to make transactions using their Mexican peso balance in the Bitso wallet.
- Why is Bitso Card being discontinued? The decision aims to focus on developing financial solutions that promote savings, investments, and long-term financial growth.
- When will the Bitso Card be fully discontinued? The Bitso Card will cease operations definitively on May 26, 2025.
- What should users do to avoid inconveniences? Users are advised to update any recurring subscriptions or payments linked to their Bitso Card.
