The debit cards are supported by Visa and allow users to convert tokens from their wallet to fiat (GBP/EUR) to load their debit card. Users can apply for a card via the mobile TokenCard app. From there standard transactions online or offline can process just the same as with any other debit or credit card. Furthermore they will be able to spend in-store, online, and at ATMs wherever Visa is available.
Currently, those who want to pay using cryptocurrency have to go through a series of time-consuming steps. They have to move from wallet to exchange, exchanging, and withdrawing to a bank account. It is there where they often face high FX fees on the transfer, according to Verdict.co.uk. In addition, the process can be lengthy due to SEPA or International transfer times.
TokenCard aims to solve this problem by offering immediate access to fiat. The company has no custodial access to their users’ crypto assets, giving a user full ownership and self-sovereignty.
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