Contis and TokenCard Partners to Issues Visa Debit Cards for Cryptocurrency Users
TokenCard is a blockchain wallet and payment project. It recently announced that it would collaborate with Contis, which is a provider of payment processing. In their partnership, the two will issue a TokenCard visa debit card in the EEA and the UK. Users will then have the ability to convert their ERC20 tokens and Ethereum into fiat such as EUR and the GBP. The money can be spent in stores, on e-commerce sites, or withdrawn at ATMs that accept Visa Cards.
Announcing the TokenCard Visa Debit card 🚀
Soon™️ Step 2 completed ✅ https://t.co/qnCMAg48KM
— Monolith.xyz (@monolith_web3) January 30, 2019
Crypto holders currently struggle to spend their holdings. However, TokenCard could solve all that. It will now be possible to gain immediate access to fiat with no compromises to decentralization valued by those that use crypto. The wallet company will not have any custodial access to crypto assets, which means users will retain full ownership and control of their money.
What The Leaders Think
Users of TokenCard usually store the tokens in smart contract wallet that is decentralized and compliant with the ERC20 standard. The application for this card can be made via the wallet.
The CEO of TokenCard said that the company was happy to work with Contis. He added that he was glad Contis supported their mission of realizing the value that is emerging from the crypto economy. He said this deal would help place this value in the pockets of those who support the Ethereum project.
The Contis CEO also had similar positive sentiments. He said that the company was happy to work with TokenCard on this project. The company was going to help power the card and banking solution. As a result, they would be able to improve the customer experience.
TokenCard is a project that wants to build a bridge between the token economy and the banking world. It will thus help to ensure that crypto is securely integrated into the normal economy. The products offered by this project include the Visa Debit card, useful for payments and withdrawals at ATMs and a mobile app to manage digital assets. TokenCard will link existing payment infrastructure to Ethereum with the help of smart contracts. The company has no hold on digital assets, which ensures that users have 100% sovereignty. It is based in London and it is part of the FCA Sandbox.
Contis is a major provider of payments, banking, and processing solutions. The company has received numerous awards in the past for its services. The company was created in 2008. Its scalable platform handles both Visa and banking payments. The company is in the list of the FT1000, which is a list of the fastest growing companies in Europe for 2018. The Sunday Times ranked the company as part of the 100 fastest growing financial services company in 2018. The company has offices in Europe, the UK, and India. It offers banking solutions to third parties and various white label and branded banking products. Besides that, it offers current account capabilities to its clients.