Crypto exchange Gate.io announced its plans to launch a crypto debit card in Europe in collaboration with payments services giant Visa.
The card will be issued through Gate.io's Lithuania-based company, Gate Global UAB.
- Users in the European Economic Area (EEA) can currently register and join the waitlist for the Gate Visa debit card.
- The
card will allow users to pay for goods and services in stores and
online shopping platforms where Visa is accepted using their digital
assets.
- The debit card will convert digital currencies to fiat currency in real time during payment.
- Visa's
head of crypto, Cuy Sheffield, said the company wants to bridge the
crypto ecosystem and the conventional network of merchants and financial
institutions.
- Gate.io's
rival Crypto.com also offers a similar prepaid Visa debit card that
gives users 5% cashback on their purchases in the form of CRO,
Crypto.com's native token.
