Paxful, a peer-to-peer bitcoin exchange, is launching its own crypto-debit card, according to a press release published today.
The card will be issued in the Visa system and will allow customers to convert cryptocurrency into US dollars at the time of purchase. The solution is implemented in cooperation with the blockcard cryptocurrency platform. At the launch stage, only American users will have access to the Paxful card, but over time, the geography of service will expand, the company promised.
"Access to reliable and democratic financial products is essential," said ray Youssef, CEO and co – founder of Paxful. " whether you need to invest in education, start a business, or just manage your daily financial expenses, every citizen of the world should have a full opportunity to do this."
Initially, the debit card will be available in a virtual format while users wait for the material card to be delivered by mail via the Blockcard service. Also, according to the press release, it will be possible to open a Bank account and withdraw money through ATMs.
To keep the card active, you will need to have a minimum balance of $10. 13 different cryptocurrencies will be available to top up your card.
Last week, Coinbase announced the launch of its own card in the United States.