Crypto Payments Firm Truther to Launch Non-Custodial USDT Visa Card in El Salvador

SÃO PAULO — Crypto payments company Truther is set to launch a new card in El Salvador on January 29, in collaboration with Visa. This innovative card enables users to spend USDT directly from their wallets, eliminating the need to preload funds or depend on custodial services. This development was disclosed during an interview at the Blockchain Conference Brasil.

Truther partners with Visa to offer a non-custodial USDT card in El Salvador

The upcoming card will draw funds from Truther's self-custody wallet at the point of purchase. Users will face a 2% fee on currency conversions, and Brazilian users specifically will benefit from the absence of the IOF tax on financial transactions. Following its launch in El Salvador, the card will be accessible to all of Truther’s customers.

The card allows real-time USDT spending without preloading funds

Truther's founder, Rocelo Lopes, emphasized that users do not need to load the card beforehand. For example, if a user receives a hotel bill of 30 euros, the equivalent USDT is deducted in real time. This feature could significantly enhance the practicality of spending stablecoins for travelers and crypto enthusiasts who prefer to avoid converting to fiat currency or holding balances on centralized platforms.

What sets Truther apart from traditional crypto cards is its commitment to preserving user control. The card operates using a private wallet on the Polygon blockchain, with plans to transition to the Liquid network to enhance privacy. This approach allows users to maintain full control over their funds while enjoying the benefits of a card.

Truther plans to extend its services to several Latin American countries

The launch in El Salvador, where Bitcoin is recognized as legal tender, serves as a testing ground for broader adoption across Latin America and potentially beyond. Truther is also expanding its services beyond Brazil. Its Swapix API, designed for instant crypto-to-fiat conversions connected to local payment systems like Brazil's PIX, is rolling out next in Argentina, followed by Mexico, Colombia, and Russia. These markets were selected based on their availability of 24/7 payment infrastructure and support for QR code transactions, which are essential for real-time settlements.

Truther's future integrations could triple stablecoin use in the coming year

By early 2025, Truther aims to integrate additional local stablecoins, including a tethered gold option and a token pegged to the Argentine peso. The wallet supports spending crypto through QR codes and receiving stablecoins without incurring network fees.

Moreover, Truther is reportedly collaborating with traditional banks to incorporate stablecoins into their platforms, although Lopes could not disclose further details. He anticipates stablecoin volumes could triple within the next year, driven by an influx of traditional financial institutions entering the crypto ecosystem.