The new Visa debit card is scheduled to be launched before the end of the year, offering both digital currency options and traditional currency options.
100,000 debit cards, which support digital currencies, will be issued over the next two months, thanks to a new startup. Where the company concerned, called Crypto, has applied for licenses to issue cards in Singapore. In addition, it looks forward to providing other financial services, such as lending money backed by digital currencies. The company also offers digital currency credit cards, which reward users with a cash-based cashback.
The company is issuing debit cards in partnership with Wirecard Bank in Germany. According to Chris Marzalik, co-founder and CEO of Crypto, for digital currency holders, the convenience of easily converting to cash and withdrawing cash in cash is very important. He added:
"All trading platforms do not support conversion between digital and paper currencies in financial transactions. Even if you own your digital assets in the same platform portfolio, the withdrawal process is also complicated. We believe that our product addresses a real need and enhances confidence in digital assets "
Applicants for the new debit card must undergo regular check-ups at the time of submission and will be linked to portfolios that include both conventional and digital currency trading funds. To date, the cards will be supported by: Altekwin, Clayton, Atherom, BNB platform currency, and the company's digital currency "MCO"