A Spanish banking platform called 2gether has unveiled a new cryptocurrency debit card. This has occurred at a time when Polispay has opted to cancel the operations of its MasterCard. The new Visa debit card will enable the holders to pay for commodities using the virtual coin. The prepaid Visa debit card can also be used in payments made in Euros. This will be possible through Ripple, Bitcoin Cash, EOS, Ethereum, Stellar, Litecoin, as well as EOS.
About The Fee-Free Card
2gether is a banking startup that is based in the city of Madrid. Through an official statement, the firm has said that the card has the capability of changing the crypto into the fiat currency. The statement also pointed out that the card will be ready for use in the Eurozone. Users that are found within the nineteen-member Eurozone economic bloc will be able to use the card without paying any amount. It is the belief of the company that the prepaid card will solve problems associated with making purchases using the cryptos.
Spending The Cryptocurrencies
At the moment, spending the virtual coins is a difficult and long process that involves the exchanges. It also involves the personal keys and a host of others. To use the card, the holders will have to finish a full KYC verification procedure. Once that has been done, they will be able to manage all their financial balances through an online platform.
The startup also has a mobile application. This app gives the card holders an opportunity to trade the virtual coins. 2gether has been in the industry since 2016, and has, therefore, learned some insights in the area of service. It has gone ahead to state that purchases will be offered at no mark-ups to the exchange prices.
Creating A Bank Of The Future
Over the past couple of years, there has been a serious growth in the crypto market. But despite that, most service providers and companies haven’t embraced the technology. One way of improving the adoption is adding the cryptocurrency functionalities to the current card platforms.
With its latest technological development, 2gether is moving towards the right direction. It will now be able to incorporate the machine learning technologies and the Artificial intelligence. These two great technologies will help with product choices, financial management, as well as investment decisions. 2gether is creating the bank of the future. This is where the users will take full ownership and control over the services that they use. That is according to the startup’s CEO, Ramon Ferraz.
Polispay Cancels Its Cryptocurrency Debit Card
As all that goes on, Polispay has terminated the services of its MasterCard crypto debit card. The México-based company has done this for the cardholders outside the country. However, the company has thrown the blame on some other agencies. It mainly blames the Mexican card provider for violating the rules of the MasterCard. That is according to a statement that was released by the South American-based company on 18 March.