Automated payments industry giant Visa partners with startup Eidoo for the launch of a new debit card for cryptocurrencies. That will allow users to use their cryptocurrencies quickly, easily and safely when making purchases or paying for their services.
The news was announced this May 25 by the startup Eidoo. Who reported that the new Visa debit card for cryptocurrencies will be named Eidoo Card. And it has already been approved by the automated payments giant Visa.
Likewise, Eidoo reported thatThe association was made directly with counts, one of the main members of Visa Europe. Therefore, this company will be in charge of issuing the new debit cards.
For its part, the Eidoo Card will be compatible with the two most important cryptocurrencies worldwide: Bitcoin (BTC) and Ethereum (ETH). As well as, users of these cards will be able to exchange their crypto assets for fiat money, such as the euro and the pound sterling.
Likewise, the startup Eidoo mentioned that with the new Visa debit card for cryptocurrencies, Users will be able to connect quickly and securely with the company's DeFi wallet. Which will allow them complete and autonomous management of their assets, in addition to a direct connection of their wallets with the Visa card. So users will be able to manage their funds directly from the wallet. At the same time, they will be able to make transfers and transactions much more efficiently and without complications.
Likewise, although the official launch of these new debit cards for cryptocurrencies took place yesterday via Twitter, users will receive their new cards until summer. Furthermore, for the moment, they will only be Available in European Union countries and the United Kingdom.
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Visa always at the forefront of technological innovation
The multinational financial services company founded in the United States, Visa, has been in the market for more than 60 years. And since its birth it has remained loyal to the vision of providing companies with the means and tools necessary to automate payments and transactions. Now, true to this vision, Visa partners with startup Eidoo. A Swiss-based crypto company, with which it will issue the new Eidoo Card debit card for cryptocurrencies.
Since the birth of cryptocurrencies until today, they have acquired an enormous degree of acceptance and usability among users. However, there is still a long way to go; Well, to date, there are still millions of people who do not know about the subject or who still find it difficult to carry out transactions and payments with crypto assets. Not to mention, many traders and retailers fear the constant volatility these assets suffer. Which makes it much more difficult to achieve complete acceptance of cryptocurrencies in the market.
Therefore, the alliance between these two great companies is a giant step towards building a path that allows cryptocurrencies to be integrated with finance in traditional systems. The union between Visa and Eidoo will allow cryptocurrency holders to exchange their crypto assets for fiat currencies without complications.
How does the new Eidoo Card work?
The new Visa debit card for cryptocurrencies Eidoo Card will have 3 levels: Classic Visa, VIP Visa and Black Metal Visa. Which, of course, will integrate special functionalities and features to improve user experiences.
Source: Verdict.co.uk
In addition, they will integrate stableconis or stable coins regulated to ensure smooth and proportionate conversions from cryptocurrencies to fiat currencies.
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The stablecoins that make up the Eidoo Card are based on Ethereum Moneyfold. The crypto financial services firm located in the United Kingdom. Thus, the CEO of Eidoo, Thomas Bertani expressed that:
“People hold a given crypto token, sell it for the stablecoin via DeFi DEX like Uniswap. “The regulated stablecoin obtained from there is then completed with a 1:1 exchange rate (1 Moneyfold EUR = 1 EUR) on the card when payment occurs.”
Likewise, Eidoo Card users will be able to carry out all the common operations that are normally carried out with a debit card. Even the feature of withdrawing cash from ATMs in person, without fees and without problems. In addition, they will maintain control over their assets and funds at all times. Since the Eidoo Card will have a direct connection to the Eidoo DeFi wallet. In reference to this, Bertani mentioned:
“The Eidoo card is non-custodial and designed for users to maintain full control over their crypto at all times. It is designed for the DeFi economy and with built-in financial autonomy. “We also want to ensure that Eidoo Card offers an unparalleled crypto experience, making it even more accessible, enjoyable and global.”
On the other hand, Bertani mentioned that conversions from cryptocurrencies to fiat currencies too They may be carried out through smart contracts..
How to get the new Eidoo Card?
All those users interested in obtaining one of these debit cards for cryptocurrencies can make their reservations starting yesterday, using Eidoo's native token, the EDO. To do this you must participate in the network (stake) or burn the token.
Depending on the level of card the user wishes to acquire, they must burn from 100 EDO tokens or participate in the network with 25.000 EDO tokens. To date, the CEO of Eidoo stated that there are already more than 2.700 reserved cards that will be delivered in the summer.
Likewise, the launch of the new card comes integrated with a paward program that will reward 10 members of the Eidoo community. Who They will receive an Eidoo Card debit card as a gift.
In this order, there will be 5 winners who will receive a Basic Eidoo Card. In second place will be 4 winners who will receive an upgrade from Basic to Eidoo Card Vip. And first of all there will be 1 winner who will receive a Vip upgrade to Eidoo Card Black Metal. Likewise, members of the Eidoo community and users of the Eidoo Card They will be able to participate for return and refund bonuses on their purchases.. Which range from 0 to 1,5%, from 1,5 to 3,25%, and from 3,25% to 5% for each of the card levels respectively.
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