Nexo, a crypto lender, and Mastercard, a global payments company, have partnered to create the world’s first dual-mode cryptocurrency card. This card allows users to switch between debit and credit modes to meet their transactional needs and can be used at over 100 million merchants worldwide. The card also allows users to spend their available stablecoin balance in Euro, US Dollar, and the British pound sterling or withdraw up to €10,000 each month with no extra charges. Additionally, the dual-mode card is designed to help users manage the challenges of handling multiple physical and virtual credit cards while earning up to 9% interest on their holdings. The partnership is an improvement upon a crypto-payment card product launched last year in partnership with Mastercard and DiPocket. Antoni Trenchev, Co-founder and Managing Partner at Nexo, said the card underscores the companies’ commitment to proactively meet the evolving needs of their global customer base. Christian Rau, Senior Vice President of Fintech and Enablement at Mastercard, added that the launch is a significant step in their commitment to empowering the digital asset ecosystem with trusted and secure payment experiences. This development follows Mastercard’s failed partnership with Binance in Latin America and the Middle East, where it ended its four crypto card programs for undisclosed reasons. Despite this, the payment company has maintained its intention to seek more partnerships with crypto companies, as evidenced by its latest collaboration with Nexo.
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 | Global |
| Countries | 🇺🇸 🇬🇧 |
| Sentiment | positive |
| Relevance Score | 9 |
| People | Christain Rau, Antoni Trenchev |
| Companies | Binance, Mastercard, Nexo, None, DiPocket |
| Currencies | Ethereum, US Dollar, British Pound, Euro, Bitcoin |
| Securities | None |
