BTSE, the respected digital assets exchange, has taken an exciting step in cryptocurrency adoption by unveiling a crypto payments card. This card, a result of BTSE’s continuous quest for innovation, opens up cryptocurrency spending to Mastercard’s massive network spanning 53 million merchants in 210 countries.
This invention, fittingly named the BTSE Card, indeed marks a substantial advance in the practical use of cryptocurrency. Users can replenish the card using their digital assets, effectively converting crypto-to-fiat for purchases online or offline, throughout Mastercard’s vast global network. In addition, users can enjoy the thrill of feeling tangible cash in their hands once again, as they are allowed to withdraw cash at all Mastercard friendly spots. The company even assures favorable rates for cash-outs within Europe.
BTSE’s CEO, Henry Liu, showcases his belief in the transformative potential of cryptocurrency stating, “Users will be able to spend their BTSE balances in a diverse range of scenarios, from retail to e-commerce, travel, and more.”
The creation of the BTSE card was a response to a pressing demand from users eager to spend their holdings in an effortless and convenient manner without the stress of switching between crypto and fiat. Moreover, the card also supports a roster of digital assets that includes Bitcoin, Tether, USD Coin, Ether, and Euro, broadening the options for users.
“Payment is one of the areas where cryptos find their most potent use cases and have great untapped potential,” says Jeff Mei, BTSE’s COO. This card represents an important leap towards universal acceptance of crypto, significantly pushing the needle for global adoption.
A couple of caveats are in order though. Users must first clear a know-your-customer verification process and then apply for the card. There’s an annual subscription fee too, albeit a refundable one of 40 EUR assuming the user tops up to a minimum of 12,000 EUR within a year.
While critics might point out the prescriptive nature of the verification process and the leeway big institutions like Mastercard still retain, it’s hard to deny the convenience and unprecedented access this card offers. Pair this with BTSE’s reputed reputation in the crypto world, and it’s fair to say that the future—if not already here—is just around the corner.
Source: Cryptonews
