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May 26, 2020

Eidoo partners Visa to launch crypto debit card in Europe and UK

Switzerland-based blockchain startup Eidoo has chosen Visa as its card-issuing partner to allow cardholders to pay with Bitcoin at points of sale (POS) terminals using a debit card.

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The partnership has introduced a new DeFi-enabled Visa crypto debit card that uses regulated stablecoins like Moneyfold for crypto-to-fiat conversion.

Visa has approved the new card named Eidoo Card, which will enable 40 million Visa merchants to accept crypto-derived fiat currencies, including British pound (GBP) and euro (EUR).

The latest proposition prompts retailers to accept Bitcoin payments despite the existing volatility in cryptocurrency.

In a statement, Eidoo CEO Thomas Bertani said: “Eidoo Card is non-custodial and designed so users maintain full control over their crypto at all times.

“It’s designed for the DeFi economy and with financial autonomy built-in.

“We also want to ensure Eidoo Card offers an unparalleled crypto experience, making it even more accessible, enjoyable, and global.”

The new card is a result of Eidoo’s partnership with Contis, a principal member of Visa Europe and a holder of e-money licence in the UK.

Hence, the Visa-branded DeFi-enabled crypto debit card will be issued by Contis.

Earlier this month, Visa filed a patent application with the US Patent and Trademark Office (USPTO) to create a blockchain-based digital currency.

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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