Eurocoinpay Partners to Launch a First Cryptocurrency Based Card in Spain

Eurocoinpay, the Spanish cryptocurrency exchange, has reached a deal to provide one of the first crypto-based Spanish debit cards. Customers of Eurocoinpay already have access to the card. It will enable them to purchase products at more than 90million establishments across the European Union as well as around the globe.

Eurocoinpay aims to introduce crypto payments in Spain

Eurocoinpay, a Spanish cryptocurrency exchange, is now partnered with Mastercard in order to be the first company in the country to offer a crypto-based debit card. This partnership, which was always interested in cryptocurrency solutions for payment methods, will allow the company to help its customers make better use cryptocurrency assets.

Eurocoinpay CEO Herminio Fernandez de Blas believes that this type of intermediary product is essential to popularize cryptocurrency. This move "consolidates transactions with cryptocurrencies" and is being increasingly used in more stores that accept digital assets as payment methods.

Michael Miebach CEO Mastercard, said that this card will allow Eurocoinpay customers to purchase at over 90 million shops around the world.

Use Crypto as a Payment Method

Eurocoinpay regards the move as a step towards making cryptocurrency useful for customers for different purposes. Fernandez de Blas explained:

This is another step towards making cryptocurrencies more mainstream. This isn't about encouraging traders to trade with virtual currencies. It's about making these digital currencies available to users so they can decide to use them as a payment method.

To be eligible for this card, customers must meet Eurocoinpay requirements and pass Mastercard's money laundering control. All customers of the European Union exchange will have access to the card.

Eurocoinpay is just one of many exchanges that has expanded its services to include products that can link fiat and crypto. This is because credit giants Visa and Mastercard have become more crypto-friendly, allowing financial institutions like Eurocoinpay to offer more comprehensive cryptocurrency services.

Some companies still aren't convinced that crypto is a viable payment option, even though they support crypto payments. Sachin Mehra, Mastercard's Chief Financial Officer, stated in August that crypto was more of an asset class because of its volatility.

What do you think of the new crypto debit card from Mastercard and Eurocoinpay? Please leave your comments below.


By: Sergio Goschenko
Title: Eurocoinpay Partners With Mastercard to Launch One of the First Cryptocurrency Based Cards in Spain
Sourced From:
Published Date: Tue, 20 Sep 2022 11:30:04 +0000

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