One of the main focuses of the field of cryptocurrencies has been its integration into the mainstream realm and to give competition to the already existing financial institutions. This approach was given a boost when 2gether, a banking start-up announced that they were launching a prepaid Visa debit card that allows users to spend Bitcoin [BTC], Ethereum [ETH], XRP, Bitcoin Cash [BCH], EOS, Stellar Lumens [XLM] and Litecoin [LTC].
Another feature of the latest updates was that users will be able to use the card in any of the 19 Eurozone countries, which includes, Germany, France, and Belgium. The company’s official release stated:
“Following its successful beta launch in Spain, 2gether, the modern mutual banking platform, is announcing its European expansion. 2gether, advised by KPMG and A.T. Kearney, is empowering users across the eurozone to spend their crypto anywhere, anytime, with one swipe of the 2gether card.”
The company further revealed that citizens of the European Union have to download the application and then complete the Know Your Customer process to use the crypto debit card to its full potential. Ramon Ferraz, the Chief Executive Officer of 2gether, said:
“2gether is developing the bank of the future, where consumers can take full ownership and control of the services they use and go beyond solely interacting with euros and dollars. To date, there has been no consumer-owned, tangible application that connects crypto and the mainstream market. We’re proud to be one of the first companies in the crypto space launching a token sale with an already finished product.”
One enticing feature offered by the company is the absence of any transnational fees, something that a lot of users have been clamoring for a long time. Customers of the crypto card can pay in Euros or instantly convert any of the aforementioned cryptocurrencies to pay using the Visa card. Customers will also be able to hold and manage Euro and cryptocurrency balances in the same app as well as conduct transactions with no exchange price markups.
Visa has been slowly venturing into the field of cryptocurrencies as the credit card giant had acquired Ripple’s partner Earthport back in December 2018. The news also created a frenzy in the cryptoverse with a Ripple shareholder even tweeting:
“This is huge news. Connecting the dots. Earthport is a Ripple partner. Visa is an Earthport partner. This would make Visa a Ripple partner by default.”
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