RATE Group | Visa Approves New DeFi-Enabled Crypto Card in EU and UK
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Visa Approves New DeFi-Enabled Crypto Card in EU and UK

26 May Visa Approves New DeFi-Enabled Crypto Card in EU and UK

Posted at 07:12h in Bitcoin News by

Cryptocurrencies like Bitcoin (BTC) aren’t really easy to spend in day-to-day life, mainly because retailers prefer to stay away from crypto’s volatility. In order to build a bridge between traditional finance and emergent assets like Bitcoin, a Swiss crypto startup called Eidoo has introduced a new Visa crypto debit card that uses regulated stablecoins for crypto-to-fiat conversion.

The so-called Eidoo Card has been approved for operation by payment giant Visa. Announcing the news on May 25, Eidoo told Cointelegraph that its new card will enable 40 million Visa merchants to accept crypto-derived fiat currencies, including the British pound (GBP) and euro (EUR).

Eidoo CEO Thomas Bertani said that this latest approval by Visa is part of Eidoo’s partnership with Contis, a principal member of Visa Europe and a holder of a U,K. e-money license. Bertani said Visa has approved the entire flow of Contis-led card issuance as well as crypto-to-fiat conversion involving regulated…

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