New Debit Card From Mercuryo Aims To Bridge Crypto With Traditional Payments
Payments infrastructure platform Mercuryo on Thursday introduced a new product, Spend, a euro-denominated debit card designed to bridge the gap between self-custodial crypto wallets and traditional payment systems.
The card, issued by Quicko and operating on the Mastercard network, can be integrated with Apple Pay and Google Pay, aims to provide cryptocurrency holders with the same level of acceptance as traditional debit card users across Mastercard’s network of over 100 million merchants.
The card supports conversion from 40 different digital tokens.
Also Read: Bitcoin Below $50K? Crypto Market Braces For Volatility As ETF Outflows Continue
While the launch represents a step towards mainstream adoption of crypto payments, users will still be subject to the volatility of cryptocurrency markets when converting their assets to fiat currency.
Mercuryo claims that wallet providers integrating Spend will benefit from competitive off-ramp fees.
Petr Kozyakov, co-founder and CEO of Mercuryo, called Spend a “milestone” in democratizing cryptocurrency access and “integrating it seamlessly with the traditional payment world.”
The card is currently available only to users in the European Economic Area (EEA), with plans for global expansion.
It has a monthly spending limit of 40,000 euros ($44,300). The card comes with fees, including a €1.60 issuance fee and a €1 monthly maintenance charge.
The upcoming Benzinga’s Future of Digital Assets event on Nov. 19 is expected to further explore such innovations and their potential impact on the financial landscape.
Read Next:
Trumps Duped: Fake Crypto Project Hijacks Family X Accounts
Image: Courtesy of Mercuryo