Bitpanda’s new Visa debit card to allow users to pay in digital assets

Bitpanda’s new Visa debit card to allow users to pay in digital assets

In a bid to integrate all financial assets such as cryptocurrencies, precious metals, and fiat into one card in real-time, Austrian crypto-broker Bitpanda has reportedly announced that it is now taking pre-orders for a new Visa debit card.

For the record, this new card will be linked with any asset in a user’s Bitpanda profile, enabling them to switch the linked asset at any given time through a mobile application and make purchases online and in stores, globally. The transactions are processed in real-time and the cardholder receives a push notification each time the card is swiped.

Notably, the Visa debit card does not carry any card fees, no monthly account payment is required, and offers up to 2% cashback in bitcoin for premium clients each time they buy something.

According to a statement by Eric Demuth, Co-Founder and CEO, Bitpanda, the new offering comes after the company’s effort to design a product that allows the people to spend their investments at any time that they want. The Bitpanda card allows the customers to use any of their assets, be it metals, crypto, or fiat. No top-up is required and everything that holds value will be treated equally and can be used in any manner, he further added.

Incorporated in the year 2014, Europe’s leading broker for bitcoin presently comprises nearly 1.5 million customers who use desktop sites and mobile applications to access over 50 investment assets, which include precious metals and cryptocurrency.

As per reliable sources, Bitpanda has raised nearly USD 52 million during its first investment round in September 2020, which was led by Peter Thiel’s Valar Ventures and expanded its footprint to Turkey, Spain, France, and Poland.

The company claims to be doubling its revenues year-on-year and is also aiming at adding new asset classes such as stocks and ETFs in the near future.

Source Credit: https://www.finextra.com/newsarticle/37309/bitpanda-to-issue-multi-asset-debit-card