The Nexo Card Will Be A State Of The Art Crypto Card Developed By Mastercard

2022-04-14 01:09:59

The e-wallet that simultaneously operates with a built-in crypto exchange, Nexo, partners with payments provider Mastercard and another e-wallet, DiPocket, in order to release the first crypto card in Europe that will enable customers to make purchases without having to sell their assets, Nexo Card.

Moreover, the upcoming crypto card will be linked to a credit that is supported by crypto, provided by Nexo. Moreover, the credit line of the Nexo card will constantly stay at 0% APR, whilst giving the customers the chance to use their crypto assets as collateral instead having to sell them.

Furthermore, Nexo describes the credit line as “dynamic”, with the ability to use “multiple assets as collateral”. This includes, but is not limited to Ethereum, Bitcoin and Tether. In addition, the Nexo Card will also operate without any foreign transaction fees (FX) for amounts below $20.000.

Additionally, the crypto card also gives the customers an opportunity to earn a crypto cashback of up to 2%, with each transaction, i.e. purchase. Specifically, Nexo will pay the crypto cashback either in Bitcoin or in the native token of Nexo. It is available to order on Nexo’s official website, and you can order it in both digital and physical form.

In addition to all virtual card orders being absolutely free of charge, Nexo is also supported by both Google Pay and Apple Pay.

Speaking on the new venture, Nexo’s co-founder and managing partner, Antoni Trenchev, said that the new product will change the way of buying cryptocurrencies for millions of people both in Europe and around the world, especially since the Nexo Card enables them to spend without giving up “the potential of their cryptocurrencies”.

Raj Dhamodharan, head of crypto and blockchain products at Mastercard, shares the opinion of Trenchev that the Nexo crypto card will change the way people purchase crypto, by providing “one of a kind choices”. Lastly, Dhadmodharan states that Mastercard is a firm believer that digital assets are in the midst of “revolutionizing the financial landscape”.

Mastercard already has experience in providing its services to create cryptocurrency cards for blockchain operators, after partnering with three crypto exchanges from Asia and Australia back in 2021, in order to launch the first-ever cards that were linked to crypto, for that region of the World.

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