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Crypto Payment Card to Be Launched by Banking Platform: XRP, XLM, BTC Supported

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Mon, 03/18/2019 - 16:17
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  • A banking startup is about to launch a debit card which crypto enthusiasts will be able to use to pay for goods with crypto

Cover image via U.Today
Contents

In a recent press release, the banking startup 2gether promises that its new prepaid Visa card will allow the firm’s customers to use either fiat currency or seven crypto coins to pay for things: BTC, XRP, EOS, XLM and a few others.

A shortcut for crypto payments

The card helps people by changing digital assets into fiat (EUR) and will be accepted in almost 20 EU countries.

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2gether explains that their new Visa crypto card will be a solution for issues that prevent direct crypto payments – at the moment, if you want to pay for something with crypto, you need to work with private keys, exchanges and time-consuming transactions, as per a 2gether rep.

Regulatory compliance procedures

The company has also integrated know-your-customer (KYC) measures that users have to pass on their Android and iOS apps – only this way can they conduct transactions with crypto or simply store it. Besides, the startup claims that customers can buy crypto without the extra charges that are typical of exchanges.

Thus, the startup is going in line with international regulatory policy and is trying to protect its users.

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Beta testing phase

So far, the platform has been launched in beta in Spain. 2gether is now conducting a rollout in the Euro area. No exact dates have been provided for the official launch of the

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, but customers can so far download the app for using the card to take part in the beta testing phase.

The company’s native token

At the end of March, 2gether will also begin a pre-sale of its own coin, 2GT, through the app. The company hopes to attract around $5.65 mln. Users from all EU areas are eligible to partake, the statement says.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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