Crypterium has launched the Crypterium card that is loaded with various cryptocurrencies like bitcoin and etherum, and can be used at any retailer around the world.
The cards offer a way to convert digital currency into local currency in multiple countries around the world, allowing users to transcend geographical limitations.
According to Crypterium, it is the only prepaid card in the market that is available globally and lets holders use cryptocurrency at retailers and even to withdraw cash from ATMs.
Chief executive of Crypterium Steven Parker said the card provided the final hurdle to cryptocurrency having practical applications.
“One of the major barriers to general crypto acceptance has been the fact that it is very difficult to spend cryptocurrency in the real world, and any solutions offered so far have been confined to specific countries or retailers,” he said.
Crypterium has been working on cryptocurrency solutions since 2013 when it built a mobile payment solution, and now this card offers a practical solution to global payments.
“The beauty of cryptocurrencies is that they are designed to be borderless and global. The Crypterium card lives up to this borderless, global ideal: anyone can apply for one and start using their cryptocurrencies to pay for things in everyday life,” said Mr Parker.
The card is linked to a mobile wallet that lets account holders buy, store and manage multiple crypto’s like bitcoin, ethereum, litecoin and the company’s own token.
A further 11 currencies are expected to be added by the end of the year and the app functions like a normal bank app, allowing users to block and unblock accounts, change PINs and track expenses.
Eliot Hastie is a journalist on the wealth titles at Momentum Media.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).