In a bid to mainstream cryptocurrency transactions, digital currency exchange BTSE unveiled on Fridayits BTSE Card which allows users to top up with cryptocurrencies and then make purchases in fiat across Mastercards merchant network, both online and in physical stores.
Users can also withdraw cash from any location where Mastercard MA is accepted,especially within Europe.
The announcement comes ahead of the much-anticipated Benzinga's Fintech Deal Day on Nov. 13 andFuture of Digital Assets conference on Nov. 14, where the evolving landscape of digital assets and their integration into the global financial system will be a focal point of discussions.
BTSE's initiative is set against a backdrop where traditional financial institutions are increasingly delving into building payment infrastructures that accommodate digital assets.
In a press release shared with Benzinga, BTSE stated that there were increasingdemands from customers to spend their crypto holdings and trading gains and that itsobjective is to embed crypto payments into everyday transactions.
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The BTSE card cardholders cantransact at any of Mastercards 53 million merchants spread across 210 countries, with a transaction ceiling of 15,000 euros.
Furthermore, the card provides access to Mastercards global ATM network, capped at a 2,000 euroATM withdrawal limit.
Users can top up their cards using a range of cryptocurrencies like Tether USDT/USD , USD Coin USDC/USD , Bitcoin BTC/USD , EthereumETH/USD , and even eurosdirectly via BTSEs platform.
BTSE CEO Henry Liuemphasized the card's versatility, stating, Users can now utilize their BTSE balances across diverse sectors, from retail shopping to e-commerce, travel, and beyond. Our commitment remains to craft the finest products for our clientele and foster global crypto utilization.
BTSE COO Jeff Meiechoed similar sentiments, highlighting the potential of the BTSE Card in driving crypto adoption.
With the BTSE Card, our users can leverage the vast global network of Mastercard. Payments stand out as one of the most compelling use cases for crypto, a domain brimming with untapped potential. Our card marks a pivotal stride towards global crypto acceptance, Hei said.
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