Nexo, a leading cryptocurrency platform, has partnered with payment processing giant Mastercard to launch a Dual Mode crypto card. This card allows users to switch between debit and credit modes for daily transactions and larger purchases from more than 100 million worldwide merchants that accept Mastercard.The Dual Mode Card is an example of a customer-first approach and a thoughtful response to users’ daily transactional needs. Nexo users can tailor their spending to suit their preferences while accumulating up to 9% yearly interest on their holdings to be paid out daily.The new product will use an already-existing payment infrastructure provided by Mastercard and DiPocket. Cardholders only have to provide their cryptocurrencies as collateral while enjoying 2% rewards on every credit mode purchase and zero fees.The Dual Mode Card offers benefits such as spending in local currencies, toggling between modes on the Nexo app, spending available EUR, USD, and GBP stablecoin balance, withdrawing up to €10,000 ($10,800) each month at no charge, and earning up to 9% yearly interest on their balance.Antoni Trenchev, co-founder and Managing Partner at Nexo, said: “By bringing the first-ever Dual Mode crypto card to market, Nexo has further strengthened its position as a leading innovator in the crypto space. The launch underscores ours and Mastercard’s commitment to proactively meet the evolving needs of our global customer base by introducing a product that resets the standards for what customers can expect from their financial service providers.”Christian Rau, Mastercard’s Senior Vice President of Fintech and Crypto Enablement Europe, said: “Mastercard’s partnership with Nexo continues to break new ground in the digital assets space. Together, we are offering innovative and convenient choices to enable users to access their crypto holdings. This launch is a significant step in our commitment to empowering the digital asset ecosystem with trusted and secure payment experiences.” Nexo has partnered with Mastercard to launch a Dual Mode crypto card, allowing users to switch between debit and credit modes for daily transactions and larger purchases from more than 100 million worldwide merchants. The card offers benefits such as spending in local currencies, toggling between modes on the Nexo app, spending available EUR, USD, and GBP stablecoin balance, withdrawing up to €10,000 ($10,800) each month at no charge, and earning up to 9% yearly interest on their balance. The cardholders only have to provide their cryptocurrencies as collateral while enjoying 2% rewards on every credit mode purchase and zero fees. Antoni Trenchev, co-founder and Managing Partner at Nexo, and Christian Rau, Mastercard’s Senior Vice President of Fintech and Crypto Enablement Europe, both commented on the launch of the Dual Mode Card.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | |
| Sentiment | positive |
| Relevance Score | 10 |
| People | Christian Rau, Antoni Trenchev |
| Companies | Binance, PrimeXBT, Mastercard, Nexo, DiPocket |
| Currencies | Ethereum, US Dollar, British Pound, Euro, Bitcoin |
| Securities | None |
