Crypto Debit Card to Be Introduced by Chain2Pay
Chain2Pay has announced a new type of debit card for cryptos with plans to launch it over the next few months. The firm will be creating the product for a subsidiary firm of MinexSystems by the name of MinexPay. The card will be designed to work like a normal debit card. The only difference will be that it will be built upon a cryptocurrency account rather than a normal at the bank
Subscribers will be able to use the debit card at retailers worldwide who accept Visa or Mastercard. It will support purchases online and also in stores, along with having ATM Txs capabilities.
Crypto Card Potential
Various types of the crypto card will be accessible for users ranging from Standard and Gold to Platinum and Infinite cards. The Standard option will introduce withdrawal fees of 2% for the firm’s digital currency MNX, while for the rest of the currencies it will be a 4% fee.
Users will be able to reload the card by using the associated mobile app or website any time they want. The Chief Executive Officer of MinexSystems has explained that payments will be very easy for users worldwide where Visa and Mastercard are options for payment because the new debit card works on the same mechanism.
He continued by saying that the Tx speed is just about 3 seconds, as the customer does not have to wait for the cryptocurrency to be changed to fiat while using the card as that step has been already done in order to provide a corresponding fiat amount available as needed.
The firm has also noted that users can use these debit cards in any country where cryptos are banned since the Tx happens within the bank, not on the exchange platform.