Simply, the word in spanish for 'white'. Some people in Latin America call caucasian people blancos since we -latin ppl, are darker than them, and they're actually white!
So yeah, its not racist itself, but would be used in that way by negros.
mira a ese man allรยก, es super blanco!! "Look at that guy over there, he's very blanco!!"
95๐ 55๐