Former Visa exec joins Crypto.com to drive Latin American market

Traditional finance execs are increasingly moving into crypto positions.

Filomena Ruffa, a former vice president of innovation and strategic partnerships at Visa's Latin America division, has joined Crypto.com to expand the company's Latin American market.

According to an Oct. 28 blog post, Ruffa will now be responsible for managing all operations and driving strategic business partnerships for Crypto.com in Latin America.

The former Visa exec brings extensive working experience in the region as well as expertise from her top positions at payments firms like CardinalCommerce and SafetyPay.

Crypto.com's hire comes as the company records major new milestones.

As reported by Cointelegraph, Crypto.com surpassed five million users on Oct. 15 after hitting one million users in September 2019.

As the company's executives plan to continue boosting its platform's base, Crypto.com has already made some steps into Latin America.

On Oct. 15, Crypto.com introduced the Portuguese version of its mobile application and exchange shortly after featuring the Spanish language on its platform.

Latin America is apparently one of the most progressive regions in terms of the crypto adoption.

According to a September 2020 study by blockchain analytics firm Chainalysis, Latin American companies are responsible for some of the highest volumes in crypto transactions worldwide, looking to crypto as an escape from the banking system.