Bitcoin Debit Card News
The idea of creating plastic cards pegged to Bitcoin has been developed from the start of the appearance of Bitcoin in 2008. In 2011-2012, the Bitcoin community started discussing the real possibility of issuing Bitcoin debit cards and their prospects. The attractiveness of this idea is obvious to investors, developers and users, as BTC debit cards could significantly facilitate the use of virtual currency in daily life and, consequently, popularize cryptocoins. By replenishing such cards with Bitcoin, it is possible to pay in shops which don’t accept Bitcoin, as it will be converted into fiat currency automatically. In 2015-2016, the number of projects related to virtual money debit cards began to grow, so currently a cryptocurrency holder can choose among over 25 companies.
Wirex first launched its crypto debit card in 2015 and currently claims over six million customers.
Wirex taps ZK-proofs for noncustodial crypto debit card issuance
Binance didn’t reveal the exact reason behind the suspension but claimed it would only impact 1% of users in the affected regions.
Binance to halt crypto debit card in Latin America, Middle East
Wirex cards may stop working in the European Economic Area, but funds held in the account are safe, the company said.
Wirex may suffer card outage in EEA due to UAB PayrNet licensing issue
The EU Cryptopay cards may stop working soon as the Bank of Lithuania has revoked the EMI license of the app’s provider, UAB PayrNet.
Cryptopay EU card provider loses license, company says card funds are safe
Bybit is set to roll out Mastercard-powered debit cards, allowing users to pay for goods and services with cryptocurrency holdings.
Bybit introduces Mastercard-powered debit card days after halting USD transfers
Users can pay bills with cryptocurrency directly from their crypto wallet or using a payment processor acting as an online crypto payment gateway.
How to buy food with Bitcoin?
The American Express executive said that the firm is bullish on crypto and is actively working to incorporate more crypto-related services in the future.
ECB exclusive: Crypto payments ‘not currently cost-effective,’ Amex exec says