Spanish Banking Firm 2gether Launches Visa Crypto Debit Card To Use At ATMs For Fiat Conversions
Spanish Banking Company Launches Visa-Friendly Crypto Debit Card
2Gether, a Spanish banking fintech based in the European Union (EU), has decided to announce today the launch of its Visa debit card which will enable the clients of the company to quickly convert their cryptocurrencies into fiat money using ATMs.
The product will only charge fees in order to make the transactions from crypto to fiat and no further fees will ever be charged to the customers. The card will be issued by a money transmitter that is regulated in Spain.
While the idea of turning your crypto into cash is not necessarily new at all and there are some Bitcoin ATMs which already exist, the truth is that most of them have very high fees in order to enable the clients to use their money.
Also, most U. S. states only have a handful of Bitcoin ATMs, so it can become hard to use a machine such as this one in some cities. The idea for this project was created exactly because 2Gether understood that people may be traveling and find themselves without any kind of money. How to deal with that, then? By using a prepaid Visa debit card which accepts your Bitcoin, of course.
This way, you can convert your holdings to your card whenever you want with basically no extra fees at all. You will not have any problems this way as most places in the world accept Visa, one of the largest payment processors in the whole world.
According to 2Gether, several high-profile figures of the crypto market such as John McAfee and the CEO of Coinbase Brian Armstrong are currently working on crypto debit cards. Why? Because they are the future of mankind. People will use this kind of card a lot in the future, so the company wants to be one of the major ones offering them right now.
Visa And Mastercard Are Finally More Warm Towards Crypto
Fortunately, one of the main challenges of taking this business forward is starting to be overcome. Companies like Visa and Mastercard are finally getting warmer towards the idea of people who will use crypto-related services.
The companies were pretty much against the idea at first because most of the governments in the world “don’t back” Bitcoin and other crypto assets, but they have finally understood that they actually got no choice but to accept them as a part of the financial world. Because of this, we’ll see a new emergence in this kind of product soon.
2Gether is important because it is providing something new and exciting for its clients. The company is also having an Initial Coin Offering (ICO) right now, in which it is getting the funds to launch its new 2GT token, which will power its own platform.
If companies like 2Gether continue to make a good job and if Visa and Mastercard start to embrace this market, we’ll certainly have a great future.