Gnosis, an Ethereum Layer-2 solution, has launched a debit card in collaboration with the payment processing giant Visa during the Ethereum Community Conference. Gnosis Card will become the world's first debit card connected to an on-chain self-custodial wallet. The move also marked the first integration of a decentralized payment network with a traditional processor. - Gnosis Card will first be available in the U.K., the European Union (EU) countries, and the European Economic Area (EEA).
- The firm plans to expand the service to the U.S., Brazil, Mexico, Singapore, and Hong Kong in Q4.
- The debit card will allow holders to make payments using stablecoins and Visa's payment infrastructure during online purchases.
- At launch, the card will only support EURe, whose value is pegged to the euro, with plans for further expansion to the DAI stablecoin.
- As part of the service, the firm will offer a physical debit card and a web app where users can sign up for 30 EURe.
- The team behind the service is also actively working on an upcoming mobile app.
Over the last several years, many centralized crypto exchanges, including Bitso, Gemini, Binance, and Gate.io, collaborated with Visa and rival Mastercard to launch a debit card allowing their customers to pay for goods and services with crypto. |
