How to turn cryptocurrencies into currencies? Bitcoin (BTC) is currently trading over $ 31,000 and Ether (ETH) over $ 1,000, but most of their holders probably don’t use them for their daily purchases.
Simplex customers can now issue crypto debit cards through a partnership with Visa.
The Simplex card signed Visa
The fiat-to-crypto service provider Simplex collaborates with Visa to enable its customers to issue crypto debit cards.
Nearly 200 partners of Simplex can now offer this type of card, promoting the adoption of cryptocurrencies for retail transactions.
According to a press release dated December 28, 2020, this progress is the result of cooperation between the two companies, which allowed Simplex to become a main partner of Visa in Europe.
A spokesperson for Visa indicated that this partnership was intended to boost the activities B2B of the society.
This is an indirect solution to extend their network, giving customers Simplex the possibility of providing a card Visa crypto or fiat.
Explode microtransactions for better adoption
The founder of Simplex, Nimrod Lehavi, said the partnership was a critical step in the company’s strategy to improve access to cryptocurrency.
Crypto debit cards are an important part of enabling cryptocurrencies to become transactional currencies like fiats, making them easier to use for online or in-store spending.
The rate of use of cryptos for microtransactions remains one of the most reliable benchmarks to gauge their adoption. In 2020, a few crypto companies issued crypto debit cards.
The latest is the Binancecard, which was to be available in Europe in December 2020.
Simplex joins big names like Coinbase among the companies having obtained the status of main partner of Visa.
ATMs and crypto debit cards are the weapons that will allow cryptocurrency to invade fiats territory. “Cryptophobic” regulators are likely to ban them in the future to curb the advance of cryptocurrencies in the daily lives of ordinary people. The day millions of people buy their coffee with cryptos, then the fiats will have lost the war. Whales impress with the amount of their transactions, but the key to victory lies in microtransactions.
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