The crypto industry is evolving and crypto debit cards made life easier for people who would like to spend cryptocurrencies. There are numerous card providers. Let’s have a look at some of them. For example, Revolut has 10 million customers. Interestingly, a third of customers have traded crypto on its app.
Another company is the Monolith. Moreover, a U.K.-based company Monolith seeks to bring self-sovereignty to finance thanks to decentralization. The list of providers is quite impressive and includes, a U.S.-based platform Coinbase.
Coinbase provides a variety of functions, including exchange, wallet, and trading services. Its debit card dates back to 2019. Interestingly, it was possible to use this card in six European countries. Nevertheless, Coinbase launched its card in other countries as well. At the moment, the card is active in 16 countries.
Coinbase is a principal member of Visa. Consequently, it can issue debit cards without the involvement of third parties. Also, Coinbase has the ability to issue cards to other companies.
The history of the crypto debit cards
Crypto debit cards are considered an important development when it comes to the adoption of crypto around the world. Nevertheless, it was not easy to use such cards due to supplier issues as well as the volatility of digital assets, regulations, etc.
Currently, there is no shortage of such cards. As stated above there are numerous providers and one of them is Wirex a London-based debit card provider. This provider over 13 traditional and cryptocurrency accounts and has crypto-to-crypto, fiat-to-crypto, and crypto-to-fiat capabilities. Also, it is possible to use the card anywhere as payment giant Visa provides support to Wirex.
Last month, Wirex launched its Russian service. At the moment, it offers fiat credit and debit cards. However, the firm plans to offer customers the opportunity to buy Bitcoin, Ether, Litecoin, Ripple’s XRP, Dai, and its native Witex token via Visa and Mastercard.
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