DeFi lending platform CoinLoan announced the launch of a crypto card backed by the Visa network. The card comes in both virtual and physical forms and includes support for Google Pay and Apple Pay.
CoinLoan Launches Visa Crypto Card
In an effort to support suitable financing options to clients, crypto lending platform CoinLoan has launched a cryptocurrency card linked to its native digital wallet powered by the Visa network.
Showcasing a host of features, the card allows storing, swapping, and spending fiat and crypto assets worldwide, accessing transaction history, and tracking expenses. It also includes support for Google Pay and Apple Pay.
To book the card, one must register on CoinLoan’s official website and go through the identity verification process. Users have to join the waiting list wherein the company will contact a requester by email as soon as the card is released. No fee is needed to receive the card.
Commenting on the latest endeavor, CoinLoan CEO Alex Faliushin said:
“We want to give more transactional powers to crypto, and cards would be the first step forward. We observe colossal demand in this field and wish to fulfill our clients’ needs in advance. We believe this is the right decision: more and more people are discovering crypto, and giving them a convenient way to handle their digital assets is essential and extremely important to us.”
CoinLoan is a regulated financial institution licensed under Estonia Financial Authority. Formed in 2017, it’s the only platform that provides loans in crypto-assets backed by fiat collateral.
Australians Get Debit Card from Crypto.com
Australian nationals get their new crypto Visa card as global crypto exchange Crypto.com got launched at the beginning of this month. The card allows consumers to quickly convert their tokens into fiat currency to spend in stores. Besides Australia, the platform started issuing its hallmark Visa crypto cards for its users in Brazil.
Unlike normal Visa credit cards, the crypto Visa cards are prepaid in nature and need to be recharged using fiat or cryptocurrencies. The cards allow conversions of all the tokens of DeFi protocol stored into the respective market’s currency, which can then be used for purchases and ATM withdrawals.