Qredo Partner DitoBanx Launches Wallet Linked to MasterCard

Published Aug 15, 2023
By Qredo Team

Redefining financial services for the unbanked and indeed for everyone in El Salvador, our partner DitoBanx has launched their new Dito Wallet in conjunction with Mastercard, backed by Qredo technology. 

Users can now sell bitcoin and USDC held in their Dito Wallet for fiat that is immediately uploaded to a Mastercard prepaid card. 

Dito Wallet: A gateway to global spending

From the convenience of their smartphones, users will be able to convert their cryptocurrency into spendable cash accepted at over 100 million locations worldwide.  

This innovative launch is a significant stride towards financial inclusion in El Salvador, opening up a multitude of options. Users can pay utility bills, withdraw cash from ATMs, or even initiate transactions with traditional banks, all through the Dito Wallet app. 

After an initial trial launch of 2,500 users in El Salvador, DitoBanx plans to roll this offering out across the country and then all of Central America, as well as the Dominican Republic, Colombia, and Mexico. 

"Qredo Network has revolutionized the way we transact and exchange value securely. With their innovative blockchain technology and robust security measures, I feel confident in the privacy and integrity of our transactions. Qredo's seamless integration and user-friendly interface make it easy to navigate and leverage the power of decentralized finance. I highly recommend Qredo for anyone seeking a secure and efficient platform for their digital assets."  

- Guillermo Contreras, Ditobanx CEO 

dMPC: The new gold standard in crypto wallet security

In partnering with Qredo earlier this year, DitoBanx has fortified its commitment to providing secure, seamless financial services to its users by utilizing Qredo's decentralized multi-party computation (dMPC) protocol for the protection of user funds. 

Qredo's innovative dMPC technology distributes the computational processes required for transaction signing across its network. This approach all but eliminates the risk of private key theft, one of the most significant threats to crypto investors. 

With Qredo's secure custody solutions, DitoBanx users can now securely manage their digital assets, enjoying an added layer of protection when compared to the inherent risks of using either traditional hot or cold storage wallets. 

From fintech startup to market leader

Since its inception, DitoBanx has consistently aimed to bring financial inclusivity to unbanked and underbanked individuals across Latin America.  

The integration of Qredo's institutional-grade digital asset custody solutions into the DitoBanx ecosystem exemplifies this goal, furthering the vision of providing accessible and secure management of digital assets to all. 

A partnership for the future

As DitoBanx continues to innovate within the realm of financial services for the unbanked, Qredo's advanced dMPC technology will provide the secure and regulated environment needed to foster trust and facilitate growth in this emerging new financial era. 

About Qredo

Qredo is a leading provider of institutional-grade digital asset self-custody solutions. The company's distributed multi-party computing (dMPC) technology provides a secure and regulated environment for users to store, transfer, and manage their digital assets.  

Learn more: https://www.qredo.com 

About DitoBanx

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

DitoBanx's 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 team of entrepreneurs, computer scientists, and digitization enthusiasts who have together funded and grown technology platforms across emerging markets. They have received backing from international VC companies including the Ark Fund in Mexico and investors across Europe. 

Learn more: https://ditobanx.com