Crypterium, a well-known cryptocurrency company and winner of the KPMG Fintech startup award has announced the launch of its new Crypterium Card VISA Edition. The latest card will be an alternative to the existing Crypterium Card UnionPay which is currently used by over 30,000 people across more than 150 countries around the world.
The Crypterium Card VISA Edition is the crypto-bank’s latest innovation as it attempts to bridge the gap between traditional and crypto finance. The new product integrates seamlessly with the Crypterium Wallet to make spending crypto as easy as cash payments. According to the announcement, Crypterium’s official partnership with VISA Europe is a result of year-long negotiations, which now allows the platform to offer the globally accepted payment solution to more than 500,000 customers.
“As a former VISA general manager, I know exactly the level of quality that this card brings to the table for our customers. VISA is by far the world’s most accepted card, and that’s precisely the kind of freedom we want people to have when it comes to spending digital assets,” said Steven Parker, CEO of Crypterium
To lower the barrier for cryptocurrency holders, Crypterium Card VISA Edition is offered for free to all users. However, users may have to bear the delivery charges which could go up to €14.99 based on the type of delivery. Even then, CRPT token holders can manage to get their hands on the new card without having to pay the delivery fee.
“Nowadays, most banks offer prepaid cards at no cost. At Crypterium, our goal is to make available similar (or even better) financial services for cryptocurrency holders. People using digital assets needed a truly affordable payment card. And that’s what our VISA card is all about,” explained Austin Kimm, Chief Operating Officer at Crypterium.
The vibrant yellow and black Crypterium Card VISA Edition is loaded by exchanging cryptocurrencies on the Crypterium Wallet to fiat money. The platform’s in-wallet exchange service instantly converts the digital currencies into euros ready to be spent. The system is integrated with the world’s top exchanges to provide competitive rates on each transaction.
Crypterium Card VISA offers a smooth payment experience across various POS and online payment gateways. It incorporates contactless technology for users to tap and pay at the POS and soon it will also be supporting Apple Pay for payments through mobile devices.
The Crypterium Card VISA offers high spending and withdrawal limits. On a monthly basis, a cardholder can spend up to €10,000 and withdraw €2,500 in cash while paying a 2% fee on top-ups. Users can manage their cards using the Crypterium Wallet mobile app on which they can block or unblock their card, modify PIN, keep track of spending, etc. Further, all accounts on the platform are secure and 100% insured by a leading custodian service in the crypto industry – BitGo.
With the inclusion of VISA powered crypto-backed cards, Crypterium has effectively increased its reach to cover a majority of payment processors where a user can pay with cryptocurrencies, just like they would otherwise do with traditional bank cards.