Truther's Visa Card Enables Instant Crypto Spending, Paving Way for Wider Stablecoin Adoption

Truther, a crypto payments firm, is set to launch a non-custodial Visa card in El Salvador on January 29, 2025, enabling users to spend USDT directly from their self-custody wallets without preloading funds or relying on custodial services. The card, which partners with Visa, deducts USDT in real time during transactions—such as a 30-euro hotel bill—without requiring users to convert their crypto to fiat currency. A 2% fee applies to currency conversions, though Brazilian users avoid the IOF tax on financial transactions. The product builds on Truther's existing infrastructure, which processes $40 million daily in stablecoin transactions via Brazil's PIX instant payment system.

The El Salvador launch leverages the country's status as a crypto-friendly testbed, where Bitcoin is legal tender. This strategic move aims to accelerate stablecoin adoption across Latin America and beyond. Truther's self-custody wallet, currently supporting BTC, USDT, and a Brazilian real–pegged stablecoin, plans to integrate additional local tokens—such as tether gold and an Argentine peso-pegged stablecoin—by early 2025. The wallet also enables QR code-based spending and receipt of stablecoins without gas fees.

Expansion is central to Truther's strategy. Its Swapix API, which facilitates instant crypto-to-fiat conversions linked to local payment systems, will roll out in Argentina first, followed by Mexico, Colombia, and Russia. These markets were selected for their 24/7 payment infrastructure and QR code compatibility, critical for real-time settlements. The company is also in discussions with traditional banks to integrate stablecoins into their platforms, though details remain undisclosed. Founder Rocelo Lopes anticipates stablecoin volumes could triple in 12 months as traditional financial players adopt the technology.

Visa's involvement underscores the growing alignment between crypto and traditional finance. The partnership follows Visa's pilot programs for stablecoin payouts to creators and gig workers. Unlike custodial crypto cards, Truther's model preserves user control by pulling funds directly from a Polygon-based wallet, with plans to migrate to the Liquid network for enhanced privacy. This approach targets crypto users seeking to avoid centralized platforms and conversion delays.

The broader implications for stablecoin adoption are significant. Real-time, on-chain settlements could redefine retail payments, particularly in regions with robust instant payment systems. For investors, the product represents a shift toward self-custody tools that align with the ethos of decentralized finance while leveraging Visa's global merchant network.