The Meta Pool team is really happy to announce that through a collaboration with NEAR ecosystem partners, we helped onboard a fintech application to NEAR Protocol. We will be working closely with them to provide staking services on NEAR and Aurora to their users.
Crecy, the first crypto-backed credit card in Mexico (powered by Mastercard), has recently started accepting Near token as its seventh token that can be used by users within the platform to activate their crypto card, making a use case of “benefiting from crypto while holding” even more accessible for people living in Latin America.
Near is a leading, open-source, carbon-neutral, high-performance blockchain that is fast, secure, and infinitely scalable. It is on a mission to onboard a billion users to the exciting possibilities of Web3 with its Blockchain Operating System (BOS). Leveraging Near’s blockchain, BOS is an industry-first common layer for browsing and discovering open web experiences. Near’s front-end is compatible with all blockchains, making it the entry point to the open web for users and developers alike.
By being able to back their credit lines at Crecy platform in NEAR tokens, tens of thousands of NEAR holders in Mexico will be able to easily get access to fiat money in local currency without the need of selling their tokens while safely storing their digital assets and optimizing their tax liabilities. Crecy crypto-backed credit card is accepted at 90 million locations worldwide and the purchases made with this card can be split into up to 12 installments.
Although the use case of “benefiting from crypto while holding” is quite new for the Latin American market, the trust in blockchain technology and tokens in the region has been constantly growing at a very fast pace in recent years and as a result, the number of crypto holders in Latin America reached 25M people at the end of 2022 (this number represents over 50% of all the crypto owners in the region).
Just some data around the region can highlight some of the opportunities Crecy is going after from this report by the Inter-American Development Bank concluded approximately 26% of adults did not have a bank account in 2021; that is why we believe that Meta Pool´s liquid staking token can enable financial inclusion in emerging markets through partnerships with fintech applications such as Crecy.
The endeavor to bring to the Mexican market a new use case using crypto is not an easy task. Any company trying to do this should gain the trust of the community even prior to starting its operations. That’s why Crecy relied on trustworthy providers such as Fireblocks (for custody services) and Mastercard (for payments) and world-class protocols including NEAR that will make Crecy’s business trustful for its customers and sustainable for decades to come.
Crecy’s crypto-backed credit card it’s just the first step of bringing to the market the novel use case of “benefiting from crypto while holding”. In Q4 of this year, Crecy will launch its yield generation tool by using which crypto holders, including NEAR holders, will be able to grow their digital assets on a flexible or fixed term.
The information provided in this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the article’s content as such.
So we would like to welcome Crecy to the NEAR ecosystem, we are looking forward to building bridges between traditional finance and Web3.
About Near
Near is on a mission to onboard a billion users to the infinite possibilities of Web3 with the Blockchain Operating System (BOS). Leveraging its high-performance, carbon-neutral protocol, which is fast, secure, and scalable, BOS is an industry-first common layer for browsing and discovering open web experiences. Near’s front-end is compatible with all blockchains, making it the entry point to the open web for users and developers alike. Established by a community-driven team of engineers and entrepreneurs, Near is simple to use and good for the environment.
About Meta Pool
Meta Pool is the leading liquid staking solution for $NEAR, Aurora and wNEAR token holders. With Meta Pool you earn NEAR staking rewards and maintain your liquidity to participate in DeFi protocols on NEAR Protocol and Aurora.
The growing ecosystem: Crecy & NEAR partnership was originally published in NEAR Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.