2gether Banking Project Allows Users To Spend 7 Different Crypto Assets From A Visa Debit Card
2gether Banking Startup Will Allow Consumers To Spend 7 Different Crypto Assets From A Visa Debit Card
Retail investors for cryptocurrency have limited ways that they are able to spend their cryptocurrency in the real world. Even with the infamous pizza purchase years ago, the traditional finance industry still has very few merchants and retailers that will accept cryptocurrency as payment. However, a new banking startup called 2gether has chosen to launch a new Visa debit card that allows users to use cryptocurrencies wherever their prepaid card is accepted.
The announcement from 2gether shows that the card is capable of using Euros, Bitcoin, Ether, XRP, Bitcoin Cash, EOS, Stellar, and Litecoin. When paying with the card, it immediately converts the available cryptocurrency to fiat currency without any fee. Presently, it appears to be accepted in any of the 19 eurozone nations.
2gether is confident that this new card will help to eliminate the problems that come with making payments with the use of cryptocurrencies. In the announcement, the company noted that the use of crypto with spending is “long and difficult,” considering the way that it involves personal keys, exchanges, and “lots of waiting.”
Anyone that purchases the card will need to pass Know Your Customer (KYC) protocols, which will allow them to use an app for either Apple or Android smartphones to purchase, sell, or store cryptocurrencies. Furthermore, the company has stated that there won’t be a markup for the prices that exchanges offer.
The firm has already completed a beta launch in Spain, and the full launch in the eurozone is finally coming. There is not an exact date on when the service will become available, the app is available in both app stores at the moment to download, which is a good opportunity to learn more about its functions for now.
Starting on March 27th, the company will be launching a pre-sale of their own token called 2GT, which will be done through the app. Their goal is to raise at least €5 million, and every EU citizen is encouraged to get involved. The CEO of 2gether, Ramón Ferraz, spoke on this new project, saying that there is no other application that offers a connection between the crypto market and the mainstream market that is owned by the consumers. He added that the platform is “proud to be one of the first companies” that is managing to bring a finished product to market before launching their token sale.