On Thursday, a leading cryptocurrency exchange, Gate.io launched Visa-oriented crypto debit cards for users in the European Economic Area (EEA). The exchange gave the details of the new product in its latest blog post. According to Gate.io, the debit card will enable users to effortlessly convert and spend their cryptocurrency.
It it noteworthy that the Visa debit card came into the limelight through Gate Global UAB, a subsidiary of Gate group based in Lithuania. Through the debit card, users will now be able to convert their crypto assets into fiat for in-store and online purchases. Thus, enabling them to shop with over 80 million Visa merchants in the real world. Meanwhile, Gate.io has commenced the waitlist and registration process for the debit card. According to its announcement, the waitlist will only be available to users in most of the European Economic Areas (EEA) for now.
According to Gate.io, the new Visa debit card is enveloped with easy-to-use features, directly connected to the Gate Card app. These features enable users to track and supervise their spending safely and securely. It also avails complete autonomy to users over their various spendings.
New debit card to foster greater financial inclusion -Gate.io CEO
Meanwhile, the Founder and CEO of Gate.io, Lin Han, made some remarks about the new product. Han expressed the excitement of the team to come up with the new innovative solution for the benefit of users. He further that this new solution will help to bridge the gap between crypto and everyday life of individuals. More so, the CEO said the team designed the debit card in a way that it fosters greater financial inclusion to users.
Further, Visa Head of Crypto, Cuy Sheffield also reacted to the launch of the debit card. He pointed out how Visa’s collaboration with Gate.io paved way for the launch of the product. Sheffield further that the payment giant wants to continue to serve as a link between crypto ecosystem and its global network of merchant and financial institutions. Through the debit card, the exec said users can carry out transactions easily without any hitches.
Worthy of note that Gate.io looks to continuously foster the experience of its users. As part of the measures towards achieving this, it recently partnered with coinfirm, a blockchain analytics and regtech solutions. With the partnership, Gate.io is expected to leverage on Coinfirm’s ALM/CFT platform to further improve its ALM/CFTA standards.