Floki Launches Debit Card in 31 European Countries
Date: 2024-12-10 Author: Gabriel Deangelo Categories: BUSINESS
The Floki project has announced the launch of its debit card, which is available in 31 European countries, including Austria, France, Germany, Italy, Liechtenstein, and Spain. Users can pay with cryptocurrency anywhere that accepts Visa or Mastercard. The card is available in both physical and virtual formats.
While the physical cards are only being launched in Europe with plans to expand, the virtual gift cards are already available worldwide. However, Floki clarified that the cards are not available in countries subject to OFAC sanctions.
One of the main features of the card is the absence of transaction and currency exchange fees, as well as support for several blockchains at once - eight in total at the initial stage. The card can be topped up with the Floki token, as well as leading cryptocurrencies such as Bitcoin, Ethereum, Solana, as well as stablecoins Tether and USDC.
The physical card costs 32 euros plus shipping, while the virtual card costs 10 euros. A 2% fee is charged for topping up the account.
The Floki project first announced its plans to issue debit cards in March this year, and also presented other initiatives, including the possibility of staking. These measures are part of the strategy to transform Floki from a meme coin into a full-fledged crypto ecosystem. One of the key parts of this ecosystem will be the blockchain game Valhalla, the launch of which has been postponed to the first quarter of 2025 due to the need for additional security checks.
The decision to postpone the deadline caused a decrease in the price of the FLOKI token, but the project team emphasized that user safety remains their priority.
The company purchased 194 bitcoins worth $18 million at an average price of $92,728 per coin. The strategy, which includes allocating 90% of reserves to Bitcoin, expects to reach $120 million in assets.
Since November, Genius Group has been actively investing in Bitcoin, making weekly purchases of an average of $2 million. The company will present its plans at the Bitcoin MENA 2024 conference in Abu Dhabi, where CEO Roger Hamilton will talk about the launch of an educational network based on blockchain and artificial intelligence.
Genius Group's approach reflects a growing trend among companies that see Bitcoin as "digital gold." The organization plans to implement blockchain for certification and a rewards system through the Lightning Network, which will strengthen its position in the digital economy.
