Paxful has created its own crypto Visa Debit cards, and is a market for digital assets by peer to peer. Initially, this service is open to US consumers where users will be able to convert their digital currencies into USD while purchasing.
According to Coinspeaker.com to launch its crypto debit card, Paxful has joined hands with fintech platform BlockCard that is part of the Ternio Group. Besides, BlockCard’s recent association with Visa will help Paxful for a smooth roll-out of its crypto debit cards.
Users have exclusive access to 45 million merchant global locations with the Paxful debit card. Much like regular debit cards, the actual debit card is perfect for any shop in the world and every ATM. Moreover, users can also access the virtual debit cards directly from their smartphones.
Paxful and Ternio have pitched their crypto debit cards as a way for the “unbanked” to get access to traditional financial services. Besides Paxful, even major players have decided to offer crypto debit cards. Coinbase reported that next year in the U.S., the non-banking lending service provider and blockchain-based lending service provider BlockFi will launch its Visa crypto debit card.