Nexo and Mastercard unveiled the world's first dual-mode crypto card
Date: 2023-08-31 Author: Karina Ziganova Categories: CRYPTO PAYMENTS
Lender company Nexo, together with the global payment system Mastercard, has created the "world's first" dual-mode cryptocurrency - a card that has credit and debit modes.
The dual-mode card allows customers to switch between debit and credit modes to suit their needs in over 100 million stores around the world that accept Mastercard.
The second part of the statement reads:
Debit and credit modes are able to combine the best qualities of both worlds - debit mods are used for everyday transactions, and credits are used for large purchases.
However, the card allows users to spend their eventual EUR/USD stablecoin balance or withdraw up to £10,000 per month without any additional fees. In particular, the dual-mode card is intended to solve the problems of users with the processing of multiple bank cards: physical and virtual. While earning up to 9% interest on their assets."
Nexo is convinced that the card improves upon the crypto payment card products from Mastercard and DiPocket launched last year.
Antoni Trenchev, co-founder and managing director of Nexo, said the card is "companies' instinct to proactively meet the growing needs of our globalized customer base by introducing a product of the kind that resets the standard of how customers expect their financial service providers."
Antoni Trenchev, co-founder and managing partner of Nexo, announced:
“Nexo Card is the pinnacle of customer-focused innovation and user satisfaction for years to come. Nexo has solidified its position as a leading innovator in the crypto space by bringing a new dual mode card to the market. The launch reinforces our commitment to be more proactive in meeting the growing demands of our global customer base and bringing innovation to our customers. It resets the standards of how customers should look in the eyes of financial service providers.”
This development follows Mastercard's failed partnership with Binance in Latin America and the Middle East, where it terminated its four crypto card programs for unexplained reasons.
Ignoring this, the payment institution has maintained its hope to forge more partnerships with crypto companies. That's exactly what her latest Nexo-supported interaction did.
