Bit2Me co-founder revealed that the crypto exchange has been working on launching a crypto-backed card for over two years.
Bit2Me, a Madrid-based cryptocurrency exchange established in 2014, has joined forces with a global payment-processing corporation, Mastercard, to launch crypto-backed debit cards.
According to the press release shared through the news portal Bloomberg, Bit2Me offers customers up to 9% cash-back for all purchases made online or in stores using a Bit2Me debit card.
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The crypto exchange’s collaboration with Mastercard allows customers to use their cryptocurrencies to pay for goods and services at over 90 million merchants worldwide. On top of that, users will be able to have digital versions of Bit2Me cards, “allowing users to make payments directly from NFC-enabled smartphones or smartwatches.”
When talking about the launch, Bit2Me co-founder and COO Andrei Manuel noted:
Our mission is to bring the use of cryptocurrencies closer to everyone. Bit2Me Card allows you to use your cryptocurrencies easily and quickly in your day-to-day life. You can use cryptocurrencies, such as Bitcoin, or stablecoins, such as USDT, at physical or online stores.
On top of that, Bit2Me co-founder and CEO Leif Ferreira revealed that the crypto exchange has worked on launching its debit card for over two years.
At the time of writing, the Bit2Me card supports eight cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Cardano (ADA), Ripple (XRP), Solana (SOL), Polkadot (DOT), Tether (USDT), and Bit2Me (B2M). In the announcement, the company stated that it is planning to add more cryptocurrencies throughout 2023.
In the press release, the crypto exchange noted that with its Bit2Me card, customers can not only pay for their goods but also withdraw cash from several ATMs around the world.
The Bit2Me card is available in 69 countries, including Canada, Brazil, India, South Africa, and Australia. In the press release, the company noted that customers in the European Economic Area (EEA) can only receive a digital version of the card.
At the end of January, cryptocurrency exchange Binance partnered with Mastercard to launch prepaid crypto cards in Brazil.
