Mercuryo in partnership with Mastercard launches debit card that lets users pay with non custodial crypto
Mercuryo, in partnership with Mastercard, has launched a debit card that lets users pay with non-custodial cryptocurrency.
🌍 Over 500M people now own crypto, and we're set to double that! Why are people turning to on-chain?
— Mercuryo (@Mercuryo_io) September 5, 2024
From high-yield investments to tokenizing art and sending money abroad, crypto offers countless opportunities for financial independence often inaccessible in many countries.… pic.twitter.com/IjNuwsz4jM
The cryptocurrency payments infrastructure platform has introduced Spend, a virtual Mastercard that can be used at any of the 90 million+ merchants in Mastercard's network as a debit card. It is compatible with Google Pay as well as Apple Pay.
Users can now spend their cryptocurrency straight from their wallets with Mercuryo's multi-chain debit card, according to a press release.
The company said by the end of 2025, the number of cryptocurrency owners is expected to have doubled from over 500 million at present. The majority of these on-chain users carry out daily transactions involving real estate, investments, trading, savings, and international transactions.
Millions of people have been able to achieve financial independence through the ability to transfer money on-chain, something that is frequently unattainable within their own countries. People have been onboarded into Web3 quite well by the industry. Users can now easily purchase cryptocurrency through on-ramping, which is a user-friendly process.
With our on-ramp services, Mercuryo has powered over 200 leading web3 dApps since 2018, assisting over 7 million users in safely acquiring cryptocurrency with their preferred currency and payment method. Millions of users, however, struggle when it comes to converting cryptocurrency into fiat money, the post added.
Cashing out of cryptocurrency can be difficult due to a number of issues, including difficult-to-use or inaccessible crypto-to-fiat solutions, bank regulations on cryptocurrency transactions, a lengthy and frustrating process for cashing out from crypto, high transaction costs, and unfavorable exchange rates. Spend offers a quick, affordable, and widely accepted method for users to convert and spend cryptocurrency straight from their wallets, doing away with the need for traditional intermediaries.
Spend goes one step further and permits total customization, enabling wallets to sell their cards with the brand logo engraved on them. Wallets can give their customers the flexibility to manage and spend their digital assets whenever and however they want by utilizing Mercuryo Spend's seamless integration. When it comes to business, the Spend card is revolutionary. Integrating Mercuryo Spend into your Web3 wallet product or service can greatly improve it.
With the same level of security as traditional debit cards, Spend can be seamlessly integrated into non-custodial wallet provider applications as a "plug-and-play" option. But it requires additional KYC and AML verification steps.
Co-founder and CEO of Mercuryo Petr Kozyakov said the product is more than just a card. Spend is a step towards a time when digital tokens can be used in a highly accessible and commonplace way that is very similar to fiat.
Mercuryo plans to expand Spend's availability beyond the European Economic Area (EEA) and to users in other regions of the world.
Disclaimer: This information should not be considered financial advice by any means. Please do your own research before making any investment decisions. The views in the articles are personal opinions only. Whale Insider is not responsible for any financial losses incurred.