DitoBanx enhances the financial market in El Salvador and launches a digital wallet that allows consumers to spend their cryptocurrencies

By DitoBanx

DitoBanx, a Salvadorian Fintech focused on financial inclusion, has launched an innovative product for the Salvadorian market: Dito Wallet, a digital wallet powered by a Mastercard prepaid card.

This new product, available for download on app stores starting in June, will allow users to sell their Bitcoin and USDC stablecoin holdings and upload the fiat currency into their Mastercard prepaid card, which can be used at over 100 million acceptance locations worldwide.

The launch of this product will allow Salvadorians to download the app from their smartphone’s app store and, after a quick registration process, will immediately provide them with a Mastercard digital prepaid card. In addition, users will also be able to request a physical card through the app.

Guillermo Contreras, DitoBanx CEO, considered this product launch a massive step towards financial inclusion in the country: “At DitoBanx, we are focused on financial inclusion, and Bitcoin as a key element of this process, since it allows users to make payments and receive money instantly, from anywhere in the world, at all times. To obtain it, you only need to be of legal age, have an ID and a phone number.”The digital wallet powered by a Mastercard prepaid card provides Salvadorian users with relevant benefits, as pointed out by Contreras: “Users can pay their water, electricity, and phone bills, and other 120 services directly through the app, or they can withdraw cash from their balance at an ATM, through a corresponding or a traditional bank account.”

About DitoBanx

DitoBanx is a company considered the “first Salvadorian Fintech for the unbanked”. It has a Bitcoin Services Provider license issued by the Central Bank, and a digital assets service provider license and is supervised by El Salvador’s Financial Superintendency. Its key objective is to open up opportunities for those traditionally excluded from the financial sector through the use of innovative financial products and tools.

Its product offering includes Digital Wallets, payment processing services, Bitcoin gift cards, credits, cash in / cash out services and the tokenization of digital assets.

DitoBanx is run by a multidisciplinary team of experienced businesspeople who, together, have previously funded and grown technology platforms in emerging markets. They have over a decade of experience in the financial technology industry and have developed products in some of the world’s leading countries. It is backed with funding from international VC companies including Ark Fund in Mexico and investors in the European region. For additional information please visit our website: https://ditobanx.com or through empresas@ditobanx.com.

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

For more information about DitoBanx and Mastercard, please visit their respective websites.”

Contact: Michael Miebach, CEO

Mastercard Networks

www.mastercard.com/ https://b2b.mastercard.com/contact-us/

Guillermo Contreras, CEO


www.ditobanx.com hola@ditobanx.com