Eidoo rolls out Visa-enabled crypto debit card for users in the UK and Europe

Thursday 28 May 2020 10:05 CET | News

Eidoo, a decentralised finance (DeFi) platform, has announced the launch of a Visa-enabled crypto debit card that aims to bring crypto payments to users in the UK and Europe.

The card will offer storage for Bitcoin and Ethereum, as well as fiat currencies such as the British pound (GBP) and euro (EUR). The announcement follows a partnership between Eidoo and Contis, a principal member of Visa Europe, as well as a UK-regulated e-money license holder.

Contis will help in overseeing the DeFi card’s issuance, undertake crypto-to-fiat conversion and processing, and work to integrate stablecoins from UK-regulated financial services provider Moneyfold.

The new Eidoo debit cards will begin shipping for 2020 summer, with the company saying it has received over 2,700 pre-orders. To get one, users must either stake or burn Eidoo’s native token EDO. According to the company, users have so far staked over 3 million of the tokens.

Eidoo card is designed to bridge the gap between the world of traditional and decentralised finance, which could drive the adoption of cryptocurrencies for payments and transactions, according to the company’s CEO.

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Keywords: Eidoo, Contis, Visa, Europe, money licence, cryptocurrency, tokens, Fiat, stablecoins, decentralised finance, debit card
Categories: DeFi & Crypto & Web3
Countries: United Kingdom
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DeFi & Crypto & Web3

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