Truther is taking a different route into crypto payments. The company plans to launch a non custodial Visa card in El Salvador on Jan. 29, letting users spend USDT directly from their own wallets without preloading funds or giving up control of their assets.
The mechanics are simple but powerful. There is no top up step. No parked balance. The wallet is the source of truth.
“If you are at a hotel and the bill is 30 euros, it deducts the USDT equivalent in real time,” founder Rocelo Lopes explained during an interview at Blockchain Conference Brasil.
At checkout, Truther pulls funds straight from the user’s self custody wallet, converting USDT at the moment of purchase. The card applies a 2% currency conversion fee, and Brazilian users benefit from avoiding the IOF financial transaction tax, which often makes international spending expensive. After the El Salvador debut, the card will roll out globally to all Truther users.
This model sets Truther apart from most crypto cards on the market. Traditional offerings usually require users to preload funds or rely on custodial accounts. Truther keeps custody with the user through a private wallet built on the Polygon blockchain, preserving control without sacrificing usability.
That infrastructure is not standing still. Lopes confirmed plans to migrate the wallet to the Liquid network to introduce stronger privacy features. The wallet currently supports Bitcoin, USDT, and Truther’s own stablecoin pegged to the Brazilian real.
The Visa launch builds on a system that is already moving serious volume. Truther processes roughly $40 million in daily transactions, connecting stablecoins directly to Brazil’s instant payment rail, PIX. This setup allows fast crypto to fiat conversions that feel familiar to everyday users.
El Salvador was a deliberate choice. As the first country to adopt Bitcoin as legal tender, it offers a real world testing ground for crypto payment products. Truther sees the launch as a proof point before scaling across Latin America and beyond.
Expansion is already underway. Truther’s Swapix API, which powers instant crypto to fiat conversions through local payment systems, is set to launch in Argentina next. Mexico, Colombia, and Russia are on the roadmap, depending on the availability of 24/7 payment rails and QR based transactions.
The company also plans to add more local stablecoins in early 2025, including Tether Gold and an Argentine peso pegged token.
Features: Users will be able to pay via QR codes or receive stablecoins without incurring network gas fees, further lowering friction.
Lopes hinted at future partnerships with traditional banks to bring stablecoins directly into banking platforms. While details remain under wraps, his outlook is clear. As banks step in, stablecoin volumes could triple over the next year, pushing self custody payments closer to the mainstream.
