The crypto-to-fiat debit card was designed to allow Huobi users to spend digital assets at points-of-sale all over the world. The product was created in partnership with Visa and will be available to both new and existing users residing in the European Economic Area (EEA) starting in the second half of 2023. The EEA includes 27 European Union member states, as well as Iceland, Liechtenstein, and Norway.
Once they receive access to the card, users will be able to spend from various digital assets linked to their card at the point of sale by leveraging the Huobi Global trading account. One of the most important functionalities of this card is that it will allow users to save time when it comes to on/off ramp fiat and digital assets between accounts and cards.
Furthermore, Huobi VISA cardholders who pay with Huobi’s platform token Huobi Token (HT) will benefit from perks and loyalty bonuses such as cashback benefits in relation to their card levels. The Huobi-branded Visa debit cards are powered by Solaris’s Buffer card issuing and secondary authorisation technology.
In the company press release, Solaris officials highlighted the product’s frictionless crypto-to-fiat point-of-sale spending features and revealed plans to deliver more payment options to users in the EEA region and beyond. Huobi Global representatives emphasised the way this collaboration will improve the user experience of their customers.
In October 2022, Blockchain.com has launched the Blockchain.com Visa Card, which leverages Visa’s payments network as well as Marqeta’s card issuing platform. At launch, there were 50,000 wait list sign-ups, and in its initial state, the card was only available to US residents exclusively.
With this card, users were enabled to spend their crypto or cash within their Blockchain.com Wallet without paying any fees while earning 1% back in crypto wherever Visa debit cards are accepted. Following the US rollout, the card is expected to be available to customers in more countries in 2023. By leveraging Visa's network and Marqeta's platform, the Blockchain.com Visa Card offers no sign-up, card issuance, or annual fees.
Company officials referred to this launch as the next step in making crypto accessible to as many people as possible. The product also serves as an example of how digital assets make their mark in the financial services industry.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now