Decentralized trading aggregator 1inch Network announced on Monday (8th) that it has partnered with crypto card developer Baanx and payment giant Mastercard to launch the Web3-enabled debit card. The “1inch Card” will allow users to seamlessly convert cryptocurrencies to fiat currency and use them for online and offline shopping worldwide at places that accept Mastercard, as well as withdraw cash from supported ATMs.
The 1inch Card, exclusively supported by the Mastercard network, will be issued by Crypto Life and will be available in both physical and virtual forms, offering users all the benefits of a standard debit card. According to the press release, the 1inch Card will be able to “quickly and securely convert your 1inch Wallet cryptocurrency to a fiat balance on your 1inch Card at competitive rates.” Initially, the financial card will target users in the UK and the European Economic Area (EEA).
Sergej Kunz, co-founder of 1inch, stated that this is another significant step for mainstream users to join DeFi, and with the 1inch Card, users can benefit from both DeFi and traditional finance.
Christian Rau, Senior Vice President of Mastercard’s Crypto and Fintech Enabler division, stated in a statement:
Source:
Why Did FamilyMart Enter the Cryptocurrency Sector? Trump’s Second Son Reveals the Truth Behind It.
He stated that the family originally had no plans to enter this field, but the banking sys…