Crypterium Payment Firm Ships Almost 4,000 Crypto Debit Cards Within a Week
Estonia based fintech company headed by a former General Manager of Visa, Crypterium has announced that it has issued almost 4000 crypto debit cards within one week after it released the card, Cointelegraph reports.
In a press release, Crypterium shipped 3,736 global crypto debit cards to almost 70 countries around the world after one week it launched the debit card. The sharp rise shows a strong appetite for crypto backed cards in the world buoyed by the sharp rise in crypto prices.
The Crypterium Card was launched back on June 12, and it offers a world-class facility for crypto enthusiasts across the world. It is a prepaid card that comes loaded with all the top cryptocurrencies like Bitcoin (BTC), Ether (ETH), Litecoin (LTC), USD Coin (USDC), as well as Crypterium’s own CRPT token. This automatically makes the card a hot commodity for most crypto traders, who would love to have such major cryptos in the palm of their hands.
The scale at which the card has been ordered is what’s quite surprising. However, looking at Bitcoin’s trajectory this last few weeks, it’s not difficult to conclude that the market is currently in hot pursuit of all the Bitcoin’s that they can possibly afford, along with the other major cryptos. Most experts believe that with time, crypto will be as common as fiat and will be gradually integrated into the mainstream.
According to the announcement, the company said that the fresh Bitcoin card in the market works in the same manner as the conventional prepaid card allowing online as well as in-store crypto buys on different services like Amazon, Netflix and others. Using the card, users can easily cash out from about 2 million automatic teller machines, ATMs, where funds are converted automatically to the local currencies.
High Demand for a Stable Debit Card
According to the announcement, most of the orders came from the US but there was a notable high demand from the Asia-Pacific areas where Australia ranked third in terms of orders. There was also a high demand for cards in countries with unstable economies and weak currencies. The company said that countries with high rates of inflation also recorded a high rate of orders.
The company is led by Steven Parker, former General Manager of global payment giant Visa, who says that these impressive numbers hint at the global demand for a “stable debit card” which would provide equal status to crypto and traditional currencies in terms of payments. Parker explained further:
“what is consistent in the booming demand for the Crypterium Card is the requirement for a stable debit card that lets holders give their crypto and traditional currencies equal status when it comes to payment.”
Crypterium is not the only company issuing the crypto debit cards. US based crypto exchange firm Coinbase launched its Visa debit card early this month. The card can be used in six European nations where clients can sync their cards with their Coinbase accounts and draw fiat money from ATMs.
Does the high demand for crypto debit cards signify widespread adoption of cryptocurrencies in the world? Let us know in the comments section.