Hong Kong-based ANX Bitcoin Exchange has launched bitcoin debit card that can be used across the globe.
ANX Bitcoin Exchange CEO and co-founder Ken Lo told Guangzhou-based 21st Century Business Herald that the launch of debit cards marks the first time the virtual currency has been integrated into the traditional banking system.
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"With this debit card, you can make purchases at 30 million stores around the world," Lo said.
He added that users can also make cash withdrawals using the card at ATMs in 200 countries.
The launch comes at a time when the price of the virtual currency has plunged from $1,147 a coin to $620 in less than half a year, and when more companies are allowing consumers to shop using bitcoins.
Initially, bitcoins were invented to be used as a vehicle for payment that applies around the world, in place of real currencies.
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By GlobalDataWith the growing concerns about the virtual currency being used for money laundering, ANX noted that it is taking all necessary measures including asking customers to provide documentation for identity and residence and even of income if the amounts involved are big.
